PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,062 shares of the credit services provider's stock after selling 27,818 shares during the quarter. Public Employees Retirement System of Ohio's holdings in PayPal were worth $36,791,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in PayPal by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after acquiring an additional 271,836 shares in the last quarter. FMR LLC boosted its holdings in PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after buying an additional 2,161,582 shares in the last quarter. Capital Research Global Investors grew its position in shares of PayPal by 108.2% during the 4th 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 acquiring an additional 9,313,783 shares during the period. Norges Bank purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp lifted its holdings in PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after purchasing an additional 1,669,908 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following 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 position. The sale 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 Analyst Weigh In

Several research firms recently commented on PYPL. Citigroup reduced their price objective on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Piper Sandler reduced their target price on shares of PayPal from $76.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Bank of America lowered their price target 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. Evercore ISI initiated coverage on shares of PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective for the company. Finally, Seaport Res Ptn lowered shares of PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.68.

PayPal Stock Performance

PYPL traded up $0.16 on Wednesday, reaching $71.64. The company had a trading volume of 2,578,609 shares, compared to its average volume of 11,187,832. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market capitalization of $69.67 billion, a PE ratio of 17.85, a P/E/G ratio of 1.27 and a beta of 1.51. The stock has a 50-day moving average price of $66.32 and a 200-day moving average price of $76.97.

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

About PayPal

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.