New York State Teachers Retirement System Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Teachers Retirement System decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 991,590 shares of the credit services provider's stock after selling 36,355 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of PayPal worth $84,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC grew its position in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider's stock valued at $638,000 after acquiring an additional 3,976 shares during the period. World Investment Advisors LLC purchased a new position in PayPal during the third quarter worth approximately $387,435,000. United Advisor Group LLC acquired a new stake in PayPal in the third quarter valued at approximately $810,000. FCG Investment Co purchased a new stake in shares of PayPal in the third quarter valued at approximately $1,079,000. Finally, Equity Investment Corp increased its holdings in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider's stock worth $155,927,000 after acquiring an additional 67,497 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on PYPL shares. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Barclays raised their price target on shares of PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Citigroup increased their target price on PayPal from $97.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their target price on shares of PayPal from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.52.

PayPal Stock Up 1.8 %

PayPal stock traded up $1.38 during trading on Monday, reaching $77.97. The stock had a trading volume of 10,494,275 shares, compared to its average volume of 11,926,884. The stock has a market cap of $77.13 billion, a PE ratio of 19.44, a P/E/G ratio of 1.29 and a beta of 1.44. The business has a 50 day moving average price of $86.42 and a 200 day moving average price of $80.36. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.