Arizona State Retirement System Sells 5,100 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Arizona State Retirement System trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,810 shares of the credit services provider’s stock after selling 5,100 shares during the quarter. Arizona State Retirement System’s holdings in PayPal were worth $23,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC lifted its position in shares of PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of PayPal during the third quarter worth $387,435,000. United Advisor Group LLC bought a new stake in shares of PayPal during the third quarter worth $810,000. Equity Investment Corp increased its stake in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the period. Finally, Weil Company Inc. raised its holdings in shares of PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after acquiring an additional 17,003 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.

PayPal Price Performance

Shares of PYPL opened at $69.50 on Thursday. The business’s 50-day moving average is $82.48 and its two-hundred day moving average is $81.09. The company has a market capitalization of $68.75 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. Research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent research reports. Robert W. Baird dropped their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Citigroup reissued an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods increased their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

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.