New York State Common Retirement Fund Has $94.32 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Common Retirement Fund trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,953 shares of the credit services provider’s stock after selling 167,734 shares during the period. New York State Common Retirement Fund owned about 0.14% of PayPal worth $94,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nordea Investment Management AB grew its position in shares of PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after buying an additional 2,616,774 shares during the period. FMR LLC lifted its stake in PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after buying an additional 1,575,930 shares in the last quarter. LSV Asset Management lifted its position in shares of PayPal by 271.6% in the third quarter. LSV Asset Management now owns 1,533,300 shares of the credit services provider’s stock worth $89,637,000 after purchasing an additional 1,120,700 shares in the last quarter. Morgan Stanley lifted its position in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of PayPal by 56.5% in the third quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock worth $140,030,000 after purchasing an additional 864,684 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JMP Securities upped their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 17th. Mizuho cut their price objective on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Susquehanna increased their target price on shares of PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Wells Fargo & Company increased their target price on shares of PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $70.47.

PayPal Trading Up 1.9 %

PYPL traded up $1.18 during mid-day trading on Tuesday, hitting $64.37. The stock had a trading volume of 3,576,955 shares, compared to its average volume of 16,325,512. The stock’s fifty day simple moving average is $62.40 and its 200-day simple moving average is $60.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $67.76 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.04 EPS for the current fiscal year.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

PayPal 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.