Public Employees Retirement Association of Colorado Sells 7,054 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Public Employees Retirement Association of Colorado lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 139,036 shares of the credit services provider’s stock after selling 7,054 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PayPal were worth $8,068,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Primecap Management Co. CA grew its position in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of PayPal in the 1st quarter worth $42,297,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Citigroup upped their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Finally, Macquarie upped their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.58.

PayPal Trading Down 1.0 %

Shares of PYPL stock opened at $76.76 on Friday. The stock has a market capitalization of $78.47 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $78.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50 day moving average price of $67.01 and a 200 day moving average price of $64.42.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the firm posted $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal 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.