SouthState Corp Acquires 6,596 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

SouthState Corp lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,750 shares of the credit services provider’s stock after purchasing an additional 6,596 shares during the quarter. SouthState Corp’s holdings in PayPal were worth $4,272,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PYPL. Fifth Third Wealth Advisors LLC raised its position in shares of PayPal by 4.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,471 shares of the credit services provider’s stock valued at $895,000 after buying an additional 519 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of PayPal by 436.2% during the third quarter. Meeder Asset Management Inc. now owns 1,630 shares of the credit services provider’s stock worth $127,000 after buying an additional 1,326 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in shares of PayPal during the third quarter worth $334,000. Pathstone Holdings LLC lifted its stake in shares of PayPal by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 100,855 shares of the credit services provider’s stock valued at $7,870,000 after acquiring an additional 767 shares during the last quarter. Finally, Aviance Capital Partners LLC acquired a new stake in shares of PayPal during the 3rd quarter valued at $522,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 1.4 %

Shares of NASDAQ:PYPL opened at $84.67 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $84.89 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.28 and a 1 year high of $87.92. The business has a fifty day moving average price of $79.17 and a two-hundred day moving average price of $69.16.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PYPL shares. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Susquehanna raised their price objective on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal 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.