TD Asset Management Inc Has $42.96 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

TD Asset Management Inc lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 740,346 shares of the credit services provider’s stock after selling 17,210 shares during the period. TD Asset Management Inc’s holdings in PayPal were worth $42,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pittenger & Anderson Inc. increased its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. American National Bank acquired a new stake in PayPal during the 1st quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in PayPal during the 1st quarter worth $30,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new stake in shares of PayPal during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PYPL. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and upped their target price for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Monness Crespi & Hardt upped their target price on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Jefferies Financial Group dropped their target price on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Finally, Robert W. Baird upped their target price on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Trading Down 4.4 %

PayPal stock opened at $68.89 on Friday. The firm has a 50-day moving average of $64.50 and a 200-day moving average of $63.55. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $74.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $70.43 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 1.03 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

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.