Kentucky Retirement Systems Lowers Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kentucky Retirement Systems cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,391 shares of the credit services provider’s stock after selling 4,872 shares during the period. Kentucky Retirement Systems’ holdings in PayPal were worth $5,452,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in PayPal during the fourth quarter valued at $749,561,000. The Manufacturers Life Insurance Company lifted its holdings in PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares in the last quarter. Boston Partners lifted its holdings in PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after purchasing an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in PayPal by 1,309.2% during the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after purchasing an additional 743,833 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $1.07 during trading on Friday, hitting $58.29. 11,323,434 shares of the company were exchanged, compared to its average volume of 10,263,198. The company has a market cap of $60.97 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.95 and a beta of 1.42. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The firm’s fifty day moving average price is $60.98 and its 200 day moving average price is $62.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the business posted $0.86 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. TD Cowen lifted their price target on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. New Street Research assumed coverage on shares of PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. William Blair lowered shares of PayPal from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research note on Friday, June 28th. Twenty equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.10.

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.