Public Employees Retirement Association of Colorado Sells 11,989 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Public Employees Retirement Association of Colorado decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,090 shares of the credit services provider’s stock after selling 11,989 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PayPal were worth $9,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the 4th quarter worth about $25,000. Pittenger & Anderson Inc. raised its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. American National Bank bought a new stake in shares of PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new position in PayPal during the 4th quarter valued at $29,000. Finally, Register Financial Advisors LLC bought a new position in PayPal in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PYPL shares. Wells Fargo & Company boosted their target price on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Evercore ISI raised their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. UBS Group boosted their price target on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada restated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a report on Friday, June 28th. Finally, Sanford C. Bernstein upped their target price on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Twenty-one research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, PayPal currently has an average rating of “Hold” and a consensus target price of $73.26.

PayPal Trading Up 1.1 %

NASDAQ PYPL opened at $58.94 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The company has a fifty day simple moving average of $60.86 and a two-hundred day simple moving average of $62.14. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $61.65 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.95 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. On average, analysts forecast that PayPal Holdings, Inc. will post 4.15 earnings per share for the current year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% 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.