California Public Employees Retirement System Has $82.80 Million Stock Holdings in PayPal Holdings, Inc. $PYPL

California Public Employees Retirement System raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,830,620 shares of the credit services provider’s stock after buying an additional 60,752 shares during the period. California Public Employees Retirement System’s holdings in PayPal were worth $82,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of PayPal by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after acquiring an additional 5,534,462 shares during the last quarter. Norges Bank bought a new position in PayPal in the fourth quarter valued at about $949,758,000. Invesco Ltd. increased its position in PayPal by 9.7% in the fourth quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider’s stock worth $713,158,000 after purchasing an additional 1,083,843 shares during the period. Dimensional Fund Advisors LP increased its position in PayPal by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,803,241 shares of the credit services provider’s stock worth $513,966,000 after purchasing an additional 625,705 shares during the period. Finally, Amundi raised its holdings in PayPal by 1.6% during the 3rd quarter. Amundi now owns 8,493,311 shares of the credit services provider’s stock worth $605,488,000 after purchasing an additional 132,837 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PayPal news, CAO Chris Natali sold 1,337 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total value of $66,128.02. Following the sale, the chief accounting officer directly owned 1,586 shares in the company, valued at approximately $78,443.56. This trade represents a 45.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the transaction, the insider directly owned 30,983 shares in the company, valued at approximately $1,325,762.57. This represents a 9.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,612 shares of company stock worth $966,623. Company insiders own 0.63% of the company’s stock.

PayPal Price Performance

PayPal stock opened at $56.56 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $49.89 billion, a P/E ratio of 10.61, a PEG ratio of 1.41 and a beta of 1.33. The business has a 50-day moving average of $44.60 and a 200-day moving average of $47.14. PayPal Holdings, Inc. has a 1 year low of $38.46 and a 1 year high of $79.50.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The business had revenue of $8.35 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company posted $1.33 EPS. PayPal’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.32 EPS for the current year.

PayPal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 4th. PayPal’s dividend payout ratio is presently 10.51%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of PayPal from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Bank of America reduced their price objective on shares of PayPal from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Zacks Research raised shares of PayPal from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of PayPal in a report on Thursday. Finally, Piper Sandler dropped their target price on shares of PayPal from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average target price of $54.61.

PayPal News Summary

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: The reported takeover interest from Stripe and Advent has fueled speculation that PayPal could be worth more than the current offer, with several analysts and investors arguing the bid is too low. Reuters: PayPal board sees Stripe-Advent offer as inadequate, sources say
• Positive Sentiment: Some market commentary suggests the bid could force a higher valuation for PYPL, potentially supporting further upside if negotiations continue or a competing offer emerges. Yahoo Finance: Cantor sees potential for higher PayPal offer as analysis suggests $70/share value
• Neutral Sentiment: PayPal’s board has reportedly not formally responded yet, so the deal is still early-stage and subject to negotiation, financing, and regulatory risk. Yahoo Finance weekly review
• Negative Sentiment: The board is said to view the $53 billion proposal as inadequate, which could mean a longer path to any deal or no deal at all if a higher price does not materialize. PYMNTS: PayPal Board Calls $53 Billion Stripe-Advent Bid Inadequate

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.