Retirement Systems of Alabama Sells 4,480 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Retirement Systems of Alabama reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212,579 shares of the credit services provider's stock after selling 4,480 shares during the quarter. Retirement Systems of Alabama's holdings in PayPal were worth $13,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in PayPal by 7.0% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 3,104 shares of the credit services provider's stock valued at $203,000 after purchasing an additional 202 shares during the period. Roberts Wealth Advisors LLC lifted its position in PayPal by 4.1% during the first quarter. Roberts Wealth Advisors LLC now owns 47,873 shares of the credit services provider's stock valued at $3,124,000 after purchasing an additional 1,900 shares during the last quarter. Townsend Asset Management Corp NC ADV lifted its holdings in shares of PayPal by 26.0% in the 1st quarter. Townsend Asset Management Corp NC ADV now owns 52,092 shares of the credit services provider's stock valued at $3,399,000 after acquiring an additional 10,758 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of PayPal by 66.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 9,695 shares of the credit services provider's stock valued at $633,000 after purchasing an additional 3,882 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in PayPal by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 115,967 shares of the credit services provider's stock worth $7,566,000 after buying an additional 1,680 shares during the last quarter. Institutional investors own 68.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PYPL shares. Wells Fargo & Company decreased their price objective on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Seaport Res Ptn lowered PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. Truist Financial started coverage on PayPal in a research report on Monday, June 2nd. They issued a "sell" rating and a $68.00 target price on the stock. Monness Crespi & Hardt cut their price target on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley increased their price target on PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $83.29.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $70.05 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $68.13 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.45. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The business's 50 day moving average price is $68.98 and its two-hundred day moving average price is $75.06.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results 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%. PayPal's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity

In other news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now directly owns 16,989 shares of the company's stock, valued at $1,244,274.36. The trade was a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director now owns 13,976 shares in the company, valued at approximately $1,020,248. The trade was 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 worth $863,028 over the last ninety days. Company insiders own 0.08% of the company's stock.

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.

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