Utah Retirement Systems Sells 2,800 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Utah Retirement Systems trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 166,398 shares of the credit services provider’s stock after selling 2,800 shares during the period. Utah Retirement Systems’ holdings in PayPal were worth $14,202,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Hurley Capital LLC acquired a new stake in PayPal during the 4th quarter worth about $27,000. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. Sugarloaf Wealth Management LLC boosted its position in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in PayPal in the 4th quarter worth approximately $37,000. Finally, Modus Advisors LLC purchased a new position in PayPal during the 4th quarter worth approximately $37,000. Institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PYPL shares. Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, March 31st. Arete Research set a $81.00 target price on PayPal in a research note on Thursday, March 27th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Friday, February 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Finally, Evercore ISI began coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.72.

PayPal Price Performance

PayPal stock opened at $65.84 on Thursday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company’s 50 day simple moving average is $66.08 and its 200-day simple moving average is $78.30. The company has a market capitalization of $64.35 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current 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.