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

SouthState Corp boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Mizuho Securities USA LLC grew its stake in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA increased its stake in PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the period. Clearbridge Investments LLC raised its holdings in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after purchasing an additional 1,108,030 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of PayPal by 139.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock valued at $120,492,000 after buying an additional 899,476 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $84.67 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap 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 twelve month low of $55.28 and a twelve month high of $87.92. The business’s 50 day moving average price is $79.17 and its two-hundred day moving average price is $69.16.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Fifteen 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.45.

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.