Texas Permanent School Fund Corp Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Texas Permanent School Fund Corp cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 221,539 shares of the credit services provider’s stock after selling 1,063 shares during the quarter. Texas Permanent School Fund Corp’s holdings in PayPal were worth $14,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of PayPal in the fourth quarter valued at $25,000. Pittenger & Anderson Inc. increased its position in PayPal by 77.5% during the first 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 PayPal during the first quarter valued at $27,000. Private Wealth Management Group LLC bought a new position in PayPal during the fourth quarter valued at $29,000. Finally, Register Financial Advisors LLC bought a new position in PayPal during the first quarter valued at $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PYPL has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. TD Cowen boosted their price objective 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 initiated coverage on shares of PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price objective on the stock. Stephens boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets upped their price target on shares of PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.82.

PayPal Stock Down 0.1 %

Shares of PYPL traded down $0.08 during mid-day trading on Friday, hitting $59.91. 641,347 shares of the company traded hands, compared to its average volume of 14,656,606. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $62.67 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. The business has a 50 day moving average of $62.02 and a 200 day moving average of $62.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) 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 company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.86 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

PayPal Company 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.