SouthState Bank Corp Lowers Position in PayPal Holdings, Inc. $PYPL

SouthState Bank Corp cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 25.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,694 shares of the credit services provider’s stock after selling 22,818 shares during the period. SouthState Bank Corp’s holdings in PayPal were worth $3,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kelleher Financial Advisors purchased a new stake in PayPal in the third quarter worth about $30,000. Torren Management LLC purchased a new stake in PayPal in the fourth quarter worth about $31,000. Private Wealth Asset Management LLC lifted its holdings in PayPal by 8,700.0% in the fourth quarter. Private Wealth Asset Management LLC now owns 528 shares of the credit services provider’s stock worth $31,000 after buying an additional 522 shares during the period. Strategic Advocates LLC purchased a new stake in PayPal in the third quarter worth about $38,000. Finally, Steph & Co. lifted its holdings in PayPal by 103.1% in the fourth quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock worth $38,000 after buying an additional 333 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Chris Natali sold 1,337 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total value of $66,128.02. Following the completion of the transaction, the chief accounting officer directly owned 1,586 shares in the company, valued at $78,443.56. The trade was a 45.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 10,732 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $49.96, for a total transaction of $536,170.72. Following the completion of the transaction, the insider owned 41,567 shares of the company’s stock, valued at approximately $2,076,687.32. The trade was a 20.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,612 shares of company stock worth $966,623 in the last three months. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PYPL shares. BNP Paribas Exane raised their price objective on shares of PayPal from $41.00 to $43.50 and gave the stock a “neutral” rating in a report on Friday, April 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of PayPal in a report on Tuesday, February 24th. Zacks Research upgraded shares of PayPal from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Wolfe Research reiterated a “sell” rating on shares of PayPal in a report on Monday, February 23rd. Finally, Truist Financial lowered their target price on shares of PayPal from $45.00 to $44.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.85.

Check Out Our Latest Analysis on PYPL

Key Headlines Impacting PayPal

Here are the key news stories impacting PayPal this week:

PayPal Price Performance

PYPL stock opened at $41.29 on Friday. The firm has a 50 day moving average price of $46.20 and a 200-day moving average price of $50.59. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50. The firm has a market capitalization of $36.42 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.03 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPLGet Free Report) last released its earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The firm had revenue of $8.35 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the business earned $1.33 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.3 EPS for the current fiscal year.

PayPal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, June 4th. PayPal’s payout ratio is presently 10.51%.

PayPal Company Profile

(Free Report)

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

See Also

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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