Canada Pension Plan Investment Board Sells 181,206 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Canada Pension Plan Investment Board decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 701,107 shares of the credit services provider’s stock after selling 181,206 shares during the period. Canada Pension Plan Investment Board owned 0.07% of PayPal worth $40,685,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PYPL. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the last quarter. American National Bank bought a new position in shares of PayPal in the 1st quarter valued at about $27,000. Family Firm Inc. bought a new position in shares of PayPal in the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in shares of PayPal in the 1st quarter valued at about $30,000. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $76.76 on Friday. The firm’s fifty day simple moving average is $67.01 and its two-hundred day simple moving average is $64.42. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $78.25. The firm has a market capitalization of $78.47 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. New Street Research started coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective for the company. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Citigroup boosted their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.58.

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.