PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 595,436 shares of the credit services provider’s stock after selling 9,565 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of PayPal worth $36,566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hartford Financial Management Inc. boosted its position in shares of PayPal by 18.8% during the fourth quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after buying an additional 163 shares during the period. Pine Haven Investment Counsel Inc boosted its position in PayPal by 3.7% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock worth $289,000 after acquiring an additional 170 shares during the period. Brooks Moore & Associates Inc. grew its stake in shares of PayPal by 1.3% in the third quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock worth $841,000 after purchasing an additional 180 shares in the last quarter. Waldron Private Wealth LLC increased its holdings in shares of PayPal by 1.9% during the fourth quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after purchasing an additional 182 shares during the period. Finally, New World Advisors LLC raised its stake in shares of PayPal by 2.9% during the fourth quarter. New World Advisors LLC now owns 6,586 shares of the credit services provider’s stock valued at $404,000 after purchasing an additional 185 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following 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. 0.14% of the stock is currently owned by corporate insiders.

PayPal Stock Up 2.9 %

PYPL traded up $1.86 during trading on Friday, reaching $65.96. 14,190,444 shares of the stock traded hands, compared to its average volume of 16,223,340. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The stock’s 50-day simple moving average is $62.73 and its two-hundred day simple moving average is $60.10. The stock has a market cap of $69.43 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.02 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 price target (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Daiwa Capital Markets downgraded PayPal from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Stephens restated an “equal weight” rating and issued a $70.00 price objective on shares of PayPal in a report on Thursday, February 8th. Finally, Evercore ISI lifted their target price on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Hold” and a consensus target price of $70.47.

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.