Paypal Holdings Inc (PYPL) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 9.7% in the second quarter, HoldingsChannel.com reports. The fund owned 274,189 shares of the credit services provider’s stock after selling 29,398 shares during the period. Arizona State Retirement System’s holdings in Paypal were worth $22,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Good Life Advisors LLC grew its position in Paypal by 25.1% during the second quarter. Good Life Advisors LLC now owns 6,569 shares of the credit services provider’s stock valued at $545,000 after buying an additional 1,318 shares during the period. Cedar Capital LLC grew its position in Paypal by 48.8% during the second quarter. Cedar Capital LLC now owns 23,191 shares of the credit services provider’s stock valued at $1,931,000 after buying an additional 7,605 shares during the period. Greenleaf Trust grew its position in Paypal by 1.6% during the second quarter. Greenleaf Trust now owns 139,669 shares of the credit services provider’s stock valued at $11,630,000 after buying an additional 2,246 shares during the period. Greenwood Capital Associates LLC grew its position in Paypal by 2.7% during the second quarter. Greenwood Capital Associates LLC now owns 49,353 shares of the credit services provider’s stock valued at $4,110,000 after buying an additional 1,279 shares during the period. Finally, Rational Advisors LLC grew its position in Paypal by 215.5% during the second quarter. Rational Advisors LLC now owns 18,937 shares of the credit services provider’s stock valued at $1,576,000 after buying an additional 12,934 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

In other news, CEO Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $82.21, for a total value of $2,137,460.00. Following the transaction, the chief executive officer now owns 353,297 shares of the company’s stock, valued at $29,044,546.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Aaron Anderson sold 17,062 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the completion of the transaction, the vice president now directly owns 9,921 shares in the company, valued at approximately $875,230.62. The disclosure for this sale can be found here. Insiders sold 149,732 shares of company stock worth $12,778,537 in the last three months. Insiders own 0.20% of the company’s stock.

PYPL stock opened at $85.32 on Friday. Paypal Holdings Inc has a one year low of $58.76 and a one year high of $92.35. The firm has a market capitalization of $102.99 billion, a PE ratio of 61.38, a P/E/G ratio of 2.87 and a beta of 1.25.

Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. research analysts expect that Paypal Holdings Inc will post 1.72 EPS for the current fiscal year.

Several brokerages recently issued reports on PYPL. Zacks Investment Research lowered shares of Paypal from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. KeyCorp restated an “overweight” rating and set a $100.00 target price (up from $95.00) on shares of Paypal in a research report on Wednesday, July 25th. Wells Fargo & Co boosted their target price on shares of Paypal from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Cantor Fitzgerald boosted their target price on shares of Paypal to $98.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Finally, Mizuho restated a “hold” rating and set a $80.00 target price on shares of Paypal in a research report on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $88.56.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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