Synovus Financial Corp Sells 4,198 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Synovus Financial Corp decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,495 shares of the credit services provider’s stock after selling 4,198 shares during the period. Synovus Financial Corp’s holdings in PayPal were worth $5,163,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in PayPal during the 4th quarter worth $1,086,508,000. Artisan Partners Limited Partnership increased its position in PayPal by 284.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after acquiring an additional 5,772,198 shares during the period. Robeco Institutional Asset Management B.V. increased its position in PayPal by 174.1% during the fourth 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 acquiring an additional 2,689,162 shares during the period. FMR LLC boosted its holdings in PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in PayPal in the 4th quarter valued at about $135,537,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The shares were 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 owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Performance

NASDAQ PYPL opened at $62.59 on Monday. The company has a market capitalization of $61.92 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.27 and a beta of 1.60. 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 twelve month low of $55.85 and a twelve month high of $93.66. The stock has a fifty day simple moving average of $69.88 and a 200 day simple moving average of $79.76.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PYPL shares. Arete Research set a $81.00 price target on shares of PayPal in a research report on Thursday, March 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Morgan Stanley increased their target price on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their price target on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, March 31st. Finally, Barclays raised their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Sixteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.32.

About PayPal

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.