PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Lifted by SouthState Corp

SouthState Corp lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,843 shares of the credit services provider’s stock after purchasing an additional 7,093 shares during the quarter. SouthState Corp’s holdings in PayPal were worth $5,278,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the 3rd quarter valued at $26,000. Sugarloaf Wealth Management LLC boosted its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Modus Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of PayPal in the 3rd quarter valued at $36,000. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PYPL shares. Citigroup reiterated an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Finally, Robert W. Baird reduced their price objective on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

PYPL opened at $68.95 on Monday. The firm has a market capitalization of $68.21 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The stock’s 50 day moving average price is $79.96 and its two-hundred day moving average price is $81.02. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal Company Profile

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.