Kentucky Retirement Systems Insurance Trust Fund Invests $1.90 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,167 shares of the credit services provider's stock, valued at approximately $1,903,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of PayPal by 15.2% during the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $248,000. Global Retirement Partners LLC raised its holdings in shares of PayPal by 12.4% during the fourth quarter. Global Retirement Partners LLC now owns 9,310 shares of the credit services provider's stock valued at $795,000 after purchasing an additional 1,025 shares during the last quarter. ING Groep NV purchased a new position in shares of PayPal during the fourth quarter valued at approximately $592,000. Finally, Transcend Capital Advisors LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $212,000. Institutional investors own 68.32% of the company's stock.

Insider Buying and Selling at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the transaction, the director now owns 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock worth $863,028 over the last 90 days. 0.08% of the stock is owned by insiders.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $70.05 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a fifty day moving average price of $68.98 and a 200 day moving average price of $75.06. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm has a market cap of $68.13 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.16 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. PayPal's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PYPL. Bank of America decreased their price objective on shares of PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reduced their target price on shares of PayPal from $104.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Evercore ISI started coverage on shares of PayPal in a report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 target price for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Finally, UBS Group reduced their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.29.

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.

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