Louisiana State Employees Retirement System reduced its position in shares of Paypal Holdings Inc. (NASDAQ:PYPL) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,400 shares of the company’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Paypal Holdings were worth $2,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Orbis Allan Gray Ltd purchased a new position in Paypal Holdings during the first quarter worth approximately $606,807,000. Vontobel Asset Management Inc. purchased a new position in Paypal Holdings during the first quarter worth approximately $344,065,000. Manning & Napier Advisors LLC purchased a new position in Paypal Holdings during the first quarter worth approximately $284,073,000. Pennant Capital Management LLC purchased a new position in Paypal Holdings during the first quarter worth approximately $123,662,000. Finally, First Manhattan Co. purchased a new position in Paypal Holdings during the first quarter worth approximately $103,478,000. Institutional investors own 78.89% of the company’s stock.

Shares of Paypal Holdings Inc. (NASDAQ:PYPL) traded down 1.70% during midday trading on Monday, reaching $40.01. The company’s stock had a trading volume of 7,574,483 shares. Paypal Holdings Inc. has a 52 week low of $30.30 and a 52 week high of $41.75. The company has a 50 day moving average price of $38.14 and a 200-day moving average price of $38.34. The stock has a market capitalization of $47.29 billion, a PE ratio of 36.37 and a beta of 1.13.

Paypal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. Paypal Holdings had a return on equity of 10.60% and a net margin of 13.55%. During the same period last year, the firm earned $0.32 EPS. On average, equities research analysts expect that Paypal Holdings Inc. will post $1.50 EPS for the current year.

A number of research analysts recently weighed in on PYPL shares. William Blair reaffirmed a “buy” rating on shares of Paypal Holdings in a research report on Tuesday, May 24th. Vetr lowered Paypal Holdings from a “strong-buy” rating to a “buy” rating and set a $42.57 price objective for the company. in a research report on Monday, May 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $48.00 price objective on shares of Paypal Holdings in a research report on Sunday, May 22nd. Jefferies Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Paypal Holdings in a research report on Thursday, June 2nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $44.00 price objective on shares of Paypal Holdings in a research report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.68.

In other news, SVP Tomer Barel sold 5,862 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.21, for a total transaction of $218,125.02. Following the sale, the senior vice president now directly owns 27,017 shares of the company’s stock, valued at approximately $1,005,302.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP William J. Ready sold 48,963 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $38.00, for a total transaction of $1,860,594.00. Following the sale, the senior vice president now directly owns 56,943 shares in the company, valued at $2,163,834. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

About Paypal Holdings

PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.

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