State of New Jersey Common Pension Fund D Has $21.36 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

State of New Jersey Common Pension Fund D cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 368,072 shares of the credit services provider’s stock after selling 220,576 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PayPal were worth $21,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. International Assets Investment Management LLC grew its position in PayPal by 11.1% in the 4th quarter. International Assets Investment Management LLC now owns 10,716 shares of the credit services provider’s stock worth $658,000 after purchasing an additional 1,073 shares during the last quarter. Gryphon Financial Partners LLC grew its position in PayPal by 36.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock worth $593,000 after purchasing an additional 2,569 shares during the last quarter. Principal Securities Inc. acquired a new stake in PayPal in the 4th quarter worth $418,000. AGF Management Ltd. acquired a new stake in PayPal in the 4th quarter worth $200,000. Finally, Apexium Financial LP acquired a new stake in PayPal in the 4th quarter worth $276,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PYPL shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Jefferies Financial Group cut their price target on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, TD Cowen lifted their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Stock Up 1.5 %

Shares of NASDAQ:PYPL opened at $70.36 on Friday. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $74.40. The company has a 50 day moving average of $65.34 and a 200-day moving average of $63.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $73.60 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.98 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.