New York State Teachers Retirement System Sells 36,355 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Teachers Retirement System reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 991,590 shares of the credit services provider’s stock after selling 36,355 shares during the period. New York State Teachers Retirement System owned about 0.10% of PayPal worth $84,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Mizuho Securities USA LLC grew its holdings in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the last quarter. FMR LLC grew its holdings in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the third quarter valued at approximately $387,435,000. Robeco Institutional Asset Management B.V. boosted its holdings in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after acquiring an additional 1,108,030 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stephens upped their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Macquarie upped their target price on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler increased their price target on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. UBS Group increased their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.52.

PayPal Stock Performance

Shares of PYPL opened at $76.59 on Friday. The stock’s 50-day simple moving average is $86.91 and its 200 day simple moving average is $80.03. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the firm posted $1.48 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.