Maryland State Retirement & Pension System Has $5.31 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Maryland State Retirement & Pension System cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,647 shares of the credit services provider’s stock after selling 1,124 shares during the period. Maryland State Retirement & Pension System’s holdings in PayPal were worth $5,314,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PayPal during the 4th quarter worth about $25,000. American National Bank acquired a new position in PayPal in the 1st quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new position in PayPal in the 4th quarter valued at about $29,000. Register Financial Advisors LLC acquired a new position in PayPal in the 1st quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management grew its stake in PayPal by 13,625.0% in the 4th quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock valued at $34,000 after buying an additional 545 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

PayPal Trading Down 0.1 %

NASDAQ PYPL traded down $0.05 on Friday, hitting $59.59. The company’s stock had a trading volume of 3,050,803 shares, compared to its average volume of 14,841,421. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company’s 50-day moving average is $62.77 and its 200 day moving average is $62.35. The firm has a market cap of $62.33 billion, a PE ratio of 15.02, a PEG ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PYPL. Wells Fargo & Company upped their price target on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target on the stock. TD Cowen boosted their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt boosted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Evercore ISI boosted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Twenty investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, PayPal has an average rating of “Hold” and an average price target of $73.82.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.