Arizona State Retirement System Has $16.82 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Arizona State Retirement System lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 289,910 shares of the credit services provider’s stock after selling 4,011 shares during the quarter. Arizona State Retirement System’s holdings in PayPal were worth $16,823,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PYPL. VELA Investment Management LLC lifted its holdings in shares of PayPal by 15.3% during the 2nd quarter. VELA Investment Management LLC now owns 13,605 shares of the credit services provider’s stock valued at $789,000 after purchasing an additional 1,809 shares in the last quarter. SouthState Corp raised its position in PayPal by 21.6% during the second quarter. SouthState Corp now owns 48,154 shares of the credit services provider’s stock worth $2,794,000 after acquiring an additional 8,546 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in PayPal by 965.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 62,866 shares of the credit services provider’s stock valued at $3,648,000 after purchasing an additional 56,964 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of PayPal by 24.8% in the second quarter. Nicholas Hoffman & Company LLC. now owns 20,190 shares of the credit services provider’s stock valued at $1,172,000 after buying an additional 4,006 shares during the last quarter. Finally, Stablepoint Partners LLC lifted its holdings in PayPal by 1.5% during the 2nd quarter. Stablepoint Partners LLC now owns 17,220 shares of the credit services provider’s stock valued at $1,015,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. TD Cowen boosted their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research report on Thursday, July 11th. Mizuho reissued an “outperform” rating and issued a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Eighteen equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Down 4.4 %

Shares of NASDAQ:PYPL opened at $68.89 on Friday. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40. The company has a market capitalization of $70.43 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. 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 fifty day moving average of $64.50 and a 200-day moving average of $63.51.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. On average, equities 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.