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

SouthState Corp increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,750 shares of the credit services provider's stock after buying an additional 6,596 shares during the period. SouthState Corp's holdings in PayPal were worth $4,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Planning Capital Management Corp increased its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after acquiring an additional 243 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter worth $29,000. SYSTM Wealth Solutions LLC boosted its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 167 shares during the period. Finally, LRI Investments LLC bought a new position in PayPal during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 68.32% of the company's stock.

PayPal Trading Down 0.7 %

Shares of PayPal stock traded down $0.58 during midday trading on Tuesday, reaching $84.09. The company had a trading volume of 12,432,018 shares, compared to its average volume of 13,453,795. PayPal Holdings, Inc. has a fifty-two week low of $55.28 and a fifty-two week high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a fifty day moving average price of $79.17 and a 200 day moving average price of $69.16. The firm has a market cap of $84.30 billion, a PE ratio of 19.84, a P/E/G ratio of 1.53 and a beta of 1.43.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The company's revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on PYPL. Jefferies Financial Group lowered their target price on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Sunday, November 3rd. BMO Capital Markets raised their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of PayPal from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, UBS Group raised their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and an average price target of $83.45.

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.