Teachers Retirement System of The State of Kentucky Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Teachers Retirement System of The State of Kentucky trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,871 shares of the credit services provider’s stock after selling 2,037 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PayPal were worth $5,042,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PYPL. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank purchased a new position in PayPal in the first quarter valued at $27,000. Register Financial Advisors LLC acquired a new position in shares of PayPal in the first quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in PayPal in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 0.0 %

NASDAQ:PYPL opened at $77.44 on Thursday. The stock’s fifty day simple moving average is $69.87 and its 200-day simple moving average is $65.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $79.17 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.11 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $80.63.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PYPL shares. Jefferies Financial Group cut their price objective on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company increased their price objective on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Monness Crespi & Hardt increased their target price on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.38.

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.