Public Employees Retirement Association of Colorado Sells 7,054 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,036 shares of the credit services provider’s stock after selling 7,054 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PayPal were worth $8,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. Benjamin F. Edwards & Company Inc. raised its holdings in PayPal by 29.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 23,112 shares of the credit services provider’s stock worth $1,341,000 after purchasing an additional 5,251 shares during the period. Intech Investment Management LLC raised its stake in shares of PayPal by 56.5% in the second quarter. Intech Investment Management LLC now owns 43,608 shares of the credit services provider’s stock worth $2,531,000 after buying an additional 15,736 shares during the period. WCG Wealth Advisors LLC purchased a new position in shares of PayPal during the 2nd quarter valued at about $702,000. MRP Capital Investments LLC grew its stake in shares of PayPal by 1.4% during the 2nd quarter. MRP Capital Investments LLC now owns 15,055 shares of the credit services provider’s stock valued at $874,000 after acquiring an additional 210 shares during the period. Finally, Middleton & Co. Inc. MA increased its holdings in PayPal by 1.8% in the 2nd quarter. Middleton & Co. Inc. MA now owns 70,651 shares of the credit services provider’s stock worth $4,100,000 after acquiring an additional 1,243 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price target on shares of PayPal in a research report on Thursday. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and raised their price target for the company from $71.00 to $78.00 in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. UBS Group boosted their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Susquehanna increased their price objective on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, July 31st. Seventeen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.58.

PayPal Stock Down 1.0 %

Shares of PYPL opened at $76.76 on Friday. 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 Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $78.25. The firm has a fifty day moving average price of $67.01 and a 200-day moving average price of $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 (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating 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 firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.