How to change folder name ?

PAULYEO11 

There are two ways to change the SharePoint site address:

1. From SharePoint admin center
2. Using Microsoft PowerShell

Notes:

1. To change the site address you should be a global or SharePoint admin in your organization/tenant.
2. If the Publishing feature is currently activated or was previously activated for the site, then changing the site address is unsupported.

Before rushing to change site address, make sure that you read and understand the side effects of changing a site address.

Additional References:

1. How to Rename the Site Address (URL) for a SharePoint Online Site
2. Change a site's title, description, logo, and site information settings 

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PAULYEO11 Hello,

To clarify, that is the URL for the Team site. What you are showing is not a folder, but a team site.
Was the solution above what you needed?

Yours sincerely,
Aref Halmstrand