State of New Jersey Common Pension Fund D increased its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 980,000 shares of the credit services provider’s stock after purchasing an additional 26,800 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Paypal worth $112,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. raised its holdings in Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 271 shares in the last quarter. Private Ocean LLC raised its holdings in Paypal by 386.7% during the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 290 shares in the last quarter. CX Institutional raised its holdings in Paypal by 605.7% during the first quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 321 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Paypal during the first quarter worth about $42,000. Finally, Liberty Wealth Management LLC purchased a new position in Paypal during the fourth quarter worth about $39,000. 80.97% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Jonathan Auerbach sold 8,730 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $113.80, for a total transaction of $993,474.00. Following the sale, the executive vice president now owns 120,470 shares in the company, valued at $13,709,486. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $112.38, for a total transaction of $3,371,400.00. Following the sale, the insider now owns 553,821 shares in the company, valued at approximately $62,238,403.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,730 shares of company stock worth $10,989,474. 0.15% of the stock is owned by company insiders.

Several research analysts recently issued reports on PYPL shares. Wedbush set a $12.00 price target on shares of Snap and gave the stock a “hold” rating in a report on Friday, July 19th. Cantor Fitzgerald restated a “buy” rating and set a $60.00 target price on shares of Benefitfocus in a research report on Wednesday, May 1st. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Royal Bank of Canada restated a “sell” rating and set a $7.50 target price on shares of Deutsche Bank in a research report on Thursday, April 25th. Finally, Canaccord Genuity upped their target price on shares of Marathon Gold from C$1.80 to C$2.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Paypal currently has a consensus rating of “Buy” and a consensus price target of $119.89.

Shares of PYPL stock traded down $3.71 during trading hours on Monday, hitting $111.78. The company’s stock had a trading volume of 752,778 shares, compared to its average volume of 5,544,327. The stock has a fifty day moving average of $117.00. The firm has a market capitalization of $135.89 billion, a PE ratio of 62.31, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $121.48.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business earned $0.58 earnings per share. Paypal’s revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Paypal Holdings Inc will post 2.41 EPS for the current year.

About Paypal

PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Read More: Coverage Ratio

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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