TD Asset Management Inc Increases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• TD Asset Management Inc has increased its stake in PayPal Holdings, Inc. by 56.4%, owning approximately $55.30 million worth of shares as of the latest SEC filing.
• PayPal reported earnings of $1.33 per share in its last quarterly announcement, exceeding the expected $1.16 and reflecting a 1.2% increase in revenue year-over-year.
• Analyst ratings for PayPal are mixed, with a consensus rating of "Hold" and an average price target of $83.13 following recent price targets revisions by multiple brokerages.

TD Asset Management Inc boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 56.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 847,567 shares of the credit services provider's stock after acquiring an additional 305,532 shares during the quarter. TD Asset Management Inc owned 0.09% of PayPal worth $55,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors lifted its holdings in shares of PayPal by 108.2% during the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after buying an additional 9,313,783 shares during the period. FMR LLC lifted its holdings in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after buying an additional 2,161,582 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of PayPal by 124.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock worth $228,206,000 after purchasing an additional 1,936,520 shares in the last quarter. Northern Trust Corp increased its stake in shares of PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock worth $892,953,000 after purchasing an additional 1,669,908 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PayPal in the 4th quarter worth $140,164,000. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

PYPL has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Citigroup reiterated a "buy" rating on shares of PayPal in a research note on Tuesday. Compass Point assumed coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $75.00 price objective on shares of PayPal in a report on Tuesday. Finally, Monness Crespi & Hardt dropped their price objective on shares of PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $84.10.

PayPal Stock Down 0.9%

PYPL stock traded down $0.66 during trading on Thursday, hitting $69.05. 8,567,888 shares of the company's stock traded hands, compared to its average volume of 11,190,938. The firm has a market capitalization of $67.15 billion, a P/E ratio of 14.75, a PEG ratio of 1.15 and a beta of 1.45. The business has a fifty day simple moving average of $73.25 and a two-hundred day simple moving average of $72.66. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66.

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 (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.10. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. PayPal had a net margin of 14.49% and a return on equity of 25.35%. During the same period last year, the company posted $1.19 earnings per share. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director directly owned 13,976 shares in the company, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is owned by company insiders.

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.