State of Alaska Department of Revenue Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

State of Alaska Department of Revenue increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,762 shares of the credit services provider’s stock after purchasing an additional 5,005 shares during the period. State of Alaska Department of Revenue’s holdings in PayPal were worth $9,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its holdings in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Family Firm Inc. bought a new stake in PayPal in the second quarter worth $29,000. Finally, SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PYPL shares. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and upped their price target for the company from $75.00 to $80.00 in a report on Thursday, October 10th. BMO Capital Markets upped their price target on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Jefferies Financial Group lowered their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Seventeen equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Price Performance

Shares of PayPal stock opened at $81.70 on Monday. The stock has a 50 day moving average of $75.65 and a 200 day moving average of $67.17. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.80. The firm has a market cap of $85.46 billion, a PE ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. On average, research analysts expect that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

About PayPal

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.