New York State Teachers Retirement System Has $63.22 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Teachers Retirement System trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.0% during the second quarter, Holdings Channel.com reports. The fund owned 1,089,422 shares of the credit services provider’s stock after selling 69,790 shares during the quarter. New York State Teachers Retirement System’s holdings in PayPal were worth $63,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. American National Bank purchased a new position in shares of PayPal during the 1st quarter valued at $27,000. Register Financial Advisors LLC bought a new stake in PayPal during the first quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new position in shares of PayPal in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PayPal stock traded up $0.05 during mid-day trading on Friday, reaching $71.57. 4,213,092 shares of the stock traded hands, compared to its average volume of 14,407,479. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $73.25. The business’s 50-day moving average is $61.77 and its 200-day moving average is $62.61. 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 capitalization of $73.17 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PYPL shares. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and increased their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. UBS Group raised their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets lifted their target price on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Finally, JMP Securities raised their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

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.