SouthState Corp Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

SouthState Corp increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,154 shares of the credit services provider’s stock after purchasing an additional 8,546 shares during the period. SouthState Corp’s holdings in PayPal were worth $2,794,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PYPL. Pittenger & Anderson Inc. grew its position in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank purchased a new position in shares of PayPal in the first quarter worth about $27,000. Register Financial Advisors LLC acquired a new stake in shares of PayPal during the first quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Private Wealth Management Group LLC purchased a new stake in PayPal in the fourth quarter valued at approximately $29,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Trading Down 0.9 %

NASDAQ PYPL traded down $0.68 during trading on Thursday, hitting $71.93. The stock had a trading volume of 5,771,136 shares, compared to its average volume of 14,185,342. The firm has a 50 day moving average price of $64.01 and a 200 day moving average price of $63.39. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $74.10. The company has a market capitalization of $73.54 billion, a PE ratio of 17.97, a PEG ratio of 1.03 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the business earned $0.83 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price objective on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Finally, StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

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.