Truist Financial Corp Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Truist Financial Corp increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,970 shares of the credit services provider's stock after buying an additional 22,211 shares during the quarter. Truist Financial Corp's holdings in PayPal were worth $24,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in shares of PayPal by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 325,270 shares of the credit services provider's stock worth $27,762,000 after buying an additional 5,591 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in PayPal by 600.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 3,165 shares of the credit services provider's stock valued at $270,000 after purchasing an additional 2,713 shares in the last quarter. Evergreen Wealth Management LLC lifted its holdings in PayPal by 4.0% during the fourth quarter. Evergreen Wealth Management LLC now owns 36,366 shares of the credit services provider's stock valued at $3,104,000 after purchasing an additional 1,404 shares in the last quarter. Rational Advisors LLC purchased a new position in PayPal during the fourth quarter valued at approximately $674,000. Finally, Principal Financial Group Inc. raised its position in shares of PayPal by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,222,677 shares of the credit services provider's stock valued at $104,356,000 after buying an additional 40,361 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Analyst Ratings Changes

PYPL has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of PayPal from $97.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research report on Wednesday, February 5th. Robert W. Baird reduced their price objective on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of PayPal from $92.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.52.

PayPal Stock Down 3.5 %

Shares of PYPL traded down $2.68 during mid-day trading on Friday, hitting $74.95. 15,156,060 shares of the company traded hands, compared to its average volume of 11,485,007. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $74.14 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The business has a 50 day moving average of $85.50 and a 200 day moving average of $80.53.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.