Synovus Financial Corp Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Synovus Financial Corp trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 60,495 shares of the credit services provider's stock after selling 4,198 shares during the quarter. Synovus Financial Corp's holdings in PayPal were worth $5,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PYPL. Summit Investment Advisors Inc. increased its position in PayPal by 0.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 80,221 shares of the credit services provider's stock valued at $6,847,000 after acquiring an additional 517 shares during the last quarter. Bragg Financial Advisors Inc lifted its stake in shares of PayPal by 7.2% in the 4th quarter. Bragg Financial Advisors Inc now owns 57,204 shares of the credit services provider's stock worth $4,882,000 after purchasing an additional 3,856 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of PayPal in the fourth quarter worth approximately $456,000. Townsquare Capital LLC boosted its holdings in shares of PayPal by 15.7% in the fourth quarter. Townsquare Capital LLC now owns 48,072 shares of the credit services provider's stock worth $4,103,000 after buying an additional 6,511 shares during the last quarter. Finally, Nicolet Bankshares Inc. grew its position in PayPal by 18.7% during the fourth quarter. Nicolet Bankshares Inc. now owns 7,509 shares of the credit services provider's stock valued at $641,000 after buying an additional 1,183 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

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Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

PayPal Trading Down 0.4 %

NASDAQ:PYPL traded down $0.27 during mid-day trading on Tuesday, hitting $62.00. 9,126,174 shares of the stock traded hands, compared to its average volume of 11,469,129. 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 52 week low of $55.85 and a 52 week high of $93.66. The stock has a market capitalization of $61.33 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.27 and a beta of 1.60. The firm's 50 day moving average is $69.54 and its two-hundred day moving average is $79.65.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company's revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PYPL shares. Bank of America cut their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday. Evercore ISI initiated coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price for the company. DZ Bank upgraded shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a research note on Friday, February 28th. Citigroup reiterated an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Sixteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and an average price target of $87.03.

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.