SouthState Corp Has $5.28 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

SouthState Corp lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PYPL. FMR LLC lifted its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new position in shares of PayPal during the 3rd quarter worth approximately $387,435,000. Robeco Institutional Asset Management B.V. lifted its position in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new position in shares of PayPal during the 4th quarter worth approximately $135,537,000. Finally, Primecap Management Co. CA lifted its position in shares of PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 3.0 %

NASDAQ:PYPL opened at $68.95 on Monday. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.21 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.27 and a beta of 1.52. The stock has a 50-day moving average price of $79.96 and a two-hundred day moving average price of $81.02.

PayPal (NASDAQ:PYPL) last posted 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PYPL shares. Susquehanna lifted their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods lifted their price objective on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Friday, February 28th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $90.03.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

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.