PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,381,435 shares of the credit services provider's stock after purchasing an additional 59,419 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of PayPal worth $90,139,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in PayPal in the 4th quarter worth about $1,086,508,000. Capital Research Global Investors boosted its holdings in shares of PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after purchasing an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership grew its stake in PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock worth $666,100,000 after purchasing an additional 5,772,198 shares in the last quarter. FMR LLC increased its holdings in PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in PayPal by 124.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock worth $228,206,000 after purchasing an additional 1,936,520 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

NASDAQ PYPL traded up $2.53 during trading hours on Monday, reaching $73.89. The stock had a trading volume of 12,985,466 shares, compared to its average volume of 11,031,640. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The stock has a fifty day moving average of $72.31 and a 200 day moving average of $73.55. 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 stock has a market cap of $71.86 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PYPL shares. Arete Research set a $81.00 target price on PayPal in a report on Thursday, March 27th. BMO Capital Markets lowered their price objective on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods cut their target price on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Robert W. Baird upped their price target on shares of PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Macquarie dropped their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.42.

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.