Louisiana State Employees Retirement System Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Louisiana State Employees Retirement System lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 135,600 shares of the credit services provider’s stock after selling 6,700 shares during the period. Louisiana State Employees Retirement System’s holdings in PayPal were worth $10,581,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PYPL. Legal & General Group Plc lifted its holdings in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its stake in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA raised its stake in PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after acquiring an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of PayPal by 5.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after acquiring an additional 146,643 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $81.70 on Friday. The business has a 50-day simple moving average of $75.38 and a two-hundred day simple moving average of $67.05. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.80. The stock has a market cap of $85.46 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 EPS. On average, analysts expect that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Analysts Set New Price Targets

PYPL has been the topic of a number of analyst reports. TD Cowen upped their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Macquarie lifted their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Mizuho increased their price target on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Susquehanna increased their target price on PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.03.

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.