SouthState Corp Has $4.42 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• SouthState Corp increased its holdings in PayPal by 9.6% during the 1st quarter, owning a total of 67,777 shares valued at approximately $4.4 million.
• PayPal's stock price dropped 0.8% to $67.65, with a market capitalization of $64.63 billion and an average rating of "Hold" from analysts.
• Recent insider transactions included EVP Diego Scotti and Director Deborah M. Messemer selling shares, leading to a combined sale of approximately $542,317 over the past quarter.

SouthState Corp raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,777 shares of the credit services provider's stock after purchasing an additional 5,934 shares during the quarter. SouthState Corp's holdings in PayPal were worth $4,422,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Nuveen LLC purchased a new position in shares of PayPal in the first quarter worth $529,264,000. Goldman Sachs Group Inc. lifted its holdings in shares of PayPal by 44.6% in the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider's stock worth $558,499,000 after buying an additional 2,638,815 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of PayPal by 124.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock worth $228,206,000 after buying an additional 1,936,520 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of PayPal by 19.1% in the first quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider's stock worth $733,294,000 after buying an additional 1,798,330 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Transactions at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director owned 13,976 shares in the company, valued at $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,736 shares of company stock worth $1,620,835 in the last quarter. Insiders own 0.08% of the company's stock.

PayPal Stock Down 0.8%

Shares of NASDAQ:PYPL traded down $0.57 during mid-day trading on Friday, hitting $67.65. 9,663,964 shares of the company traded hands, compared to its average volume of 12,859,930. The firm has a market cap of $64.63 billion, a P/E ratio of 14.46, a PEG ratio of 1.04 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The firm's 50 day simple moving average is $72.89 and its 200 day simple moving average is $71.40.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the firm earned $1.19 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several research reports. Piper Sandler set a $74.00 price target on shares of PayPal in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. BMO Capital Markets restated a "market perform" rating on shares of PayPal in a research report on Tuesday, July 29th. Finally, UBS Group reduced their price target on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $85.00.

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.