New York State Teachers Retirement System Sells 82,099 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Teachers Retirement System cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 909,491 shares of the credit services provider's stock after selling 82,099 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of PayPal worth $59,344,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in PayPal during the fourth quarter valued at $25,000. Hurley Capital LLC acquired a new position in shares of PayPal in the 4th quarter valued at about $27,000. Garde Capital Inc. bought a new stake in shares of PayPal during the 1st quarter valued at about $28,000. Tsfg LLC boosted its holdings in shares of PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock worth $29,000 after buying an additional 200 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of PayPal during the 4th quarter worth approximately $34,000. Institutional investors own 68.32% of the company's stock.

Analyst Ratings Changes

PYPL has been the subject of a number of research reports. BMO Capital Markets reduced their price target on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Bank of America cut their price objective on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods dropped their price target on PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, March 31st. Finally, Monness Crespi & Hardt reduced their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Three 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 given a strong buy rating to the stock. According to data from MarketBeat.com, PayPal has a consensus rating of "Hold" and a consensus target price of $83.42.

PayPal Stock Performance

Shares of PYPL traded up $0.12 during mid-day trading on Thursday, hitting $76.43. The stock had a trading volume of 5,249,127 shares, compared to its average volume of 10,856,755. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The business has a fifty day moving average price of $70.99 and a 200-day moving average price of $74.38. The firm has a market cap of $74.33 billion, a P/E ratio of 17.11, a PEG ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the firm posted $1.08 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity

In related news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last quarter. Company insiders own 0.08% of the company's stock.

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.