New York State Teachers Retirement System Decreases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its position in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC grew its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA grew its position in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal during the 3rd quarter worth approximately $387,435,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

NASDAQ:PYPL opened at $76.59 on Friday. The stock has a 50-day simple moving average of $86.91 and a two-hundred day simple moving average of $80.03. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. The firm has a market capitalization of $75.77 billion, a PE ratio of 19.10, a P/E/G ratio of 1.29 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) 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 business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

PYPL has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Susquehanna lifted their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. BMO Capital Markets lifted their price target on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Robert W. Baird dropped their price target on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, February 5th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $90.52.

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.