Utah Retirement Systems Sells 2,800 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Utah Retirement Systems cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,398 shares of the credit services provider’s stock after selling 2,800 shares during the quarter. Utah Retirement Systems’ holdings in PayPal were worth $14,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. Schonfeld Strategic Advisors LLC lifted its holdings in PayPal by 25.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 245,648 shares of the credit services provider’s stock worth $20,966,000 after buying an additional 49,686 shares during the period. AQR Capital Management LLC boosted its position in shares of PayPal by 79.6% during the fourth quarter. AQR Capital Management LLC now owns 3,025,173 shares of the credit services provider’s stock valued at $258,199,000 after purchasing an additional 1,341,004 shares in the last quarter. Northern Trust Corp grew its stake in PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock worth $892,953,000 after purchasing an additional 1,669,908 shares during the period. The Manufacturers Life Insurance Company lifted its position in PayPal by 71.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,011,752 shares of the credit services provider’s stock valued at $257,053,000 after buying an additional 1,253,652 shares during the period. Finally, Bellwether Advisors LLC bought a new stake in shares of PayPal during the 4th quarter valued at $115,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 0.7 %

Shares of NASDAQ:PYPL opened at $65.84 on Thursday. The company has a 50-day moving average price of $66.08 and a 200 day moving average price of $78.30. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a market cap of $64.35 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.27 and a beta of 1.60.

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

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday. Macquarie dropped their price target on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday. Compass Point assumed coverage on shares of PayPal in a research note on Wednesday, April 23rd. They set a “sell” rating and a $56.00 price objective for the company. Morgan Stanley increased their price target on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, Evercore ISI initiated coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and an average price target of $83.72.

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.