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

Truist Financial Corp raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.3% during the 4th quarter, HoldingsChannel reports. The firm owned 288,970 shares of the credit services provider’s stock after acquiring an additional 22,211 shares during the quarter. Truist Financial Corp’s holdings in PayPal were worth $24,664,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its position in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal in the third quarter valued at about $26,000. Sugarloaf Wealth Management LLC raised its position in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Planning Capital Management Corp raised its position in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. Finally, Financial Management Professionals Inc. raised its position in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL stock opened at $78.62 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $86.18 and a two-hundred day moving average of $80.45. The company has a market cap of $77.77 billion, a P/E ratio of 19.61, a PEG ratio of 1.29 and a beta of 1.44. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 5th. Robert W. Baird dropped their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their target price on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Thirteen investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.52.

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.