Retirement Systems of Alabama Sells 824,701 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Retirement Systems of Alabama reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 78.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230,747 shares of the credit services provider’s stock after selling 824,701 shares during the period. Retirement Systems of Alabama’s holdings in PayPal were worth $13,390,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sapient Capital LLC acquired a new stake in PayPal in the 4th quarter worth approximately $806,000. Fiduciary Alliance LLC boosted its stake in PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares in the last quarter. Blue Trust Inc. boosted its stake in PayPal by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after purchasing an additional 588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in PayPal by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 0.3 %

Shares of PYPL stock traded up $0.18 during trading hours on Friday, reaching $71.70. 8,210,299 shares of the stock were exchanged, compared to its average volume of 14,432,003. The business’s fifty day moving average is $62.00 and its two-hundred day moving average is $62.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $73.25. The firm has a market capitalization of $73.30 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.97 and a beta of 1.42.

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

Wall Street Analyst Weigh In

PYPL has been the subject of a number of recent analyst reports. Susquehanna lifted their target price on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their price target on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Stephens raised their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird raised their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.56.

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.