PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,773 shares of the credit services provider’s stock after selling 5,195 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PayPal were worth $4,590,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the third quarter worth $26,000. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of PayPal during the 3rd quarter valued at about $36,000. Finally, Modus Advisors LLC acquired a new stake in PayPal during the fourth quarter worth about $37,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $70.00 on Thursday. The stock’s fifty day simple moving average is $78.82 and its 200 day simple moving average is $80.89. The stock has a market capitalization of $69.25 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.27 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $1.48 EPS. PayPal’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PYPL. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and upped their target price for the company from $86.00 to $103.00 in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Susquehanna upped their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Finally, Robert W. Baird cut their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

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.