State of New Jersey Common Pension Fund D Sells 9,565 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

State of New Jersey Common Pension Fund D decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 595,436 shares of the credit services provider’s stock after selling 9,565 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PayPal were worth $36,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new position in shares of PayPal during the fourth quarter worth about $9,267,000. Bartlett & Co. LLC boosted its position in PayPal by 8.5% during the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after acquiring an additional 740 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock valued at $53,344,000 after buying an additional 73,687 shares during the period. Sunbelt Securities Inc. boosted its stake in PayPal by 4.9% during the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after acquiring an additional 942 shares in the last quarter. Finally, Bellecapital International Ltd. boosted its position in shares of PayPal by 2.0% during the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock worth $1,332,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research reports. Sanford C. Bernstein upped their price target on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. BMO Capital Markets reduced their price target on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Thursday, February 8th. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a report on Friday, February 9th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Daiwa Capital Markets downgraded shares of PayPal from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $62.00 in a research report on Tuesday, February 13th. Twenty-three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.47.

PayPal Stock Performance

Shares of NASDAQ PYPL traded up $1.86 during midday trading on Friday, hitting $65.96. The company’s stock had a trading volume of 14,190,444 shares, compared to its average volume of 16,223,340. The firm has a market capitalization of $69.43 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.21 and a beta of 1.45. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $62.73 and a 200 day moving average price of $60.10. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.02 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal 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.