Trust Co. of Toledo NA OH Purchases New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Trust Co. of Toledo NA OH purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,042 shares of the credit services provider’s stock, valued at approximately $351,000.

Several other large investors have also added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank purchased a new stake in shares of PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new stake in shares of PayPal during the 4th quarter worth approximately $29,000. Register Financial Advisors LLC purchased a new stake in shares of PayPal during the 1st quarter worth approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake 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 worth $31,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday. Macquarie raised their price target on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JMP Securities raised their price target on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Finally, Citigroup lifted their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Eighteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $74.94.

PayPal Trading Up 3.8 %

PayPal stock traded up $2.29 during mid-day trading on Tuesday, hitting $62.75. The company’s stock had a trading volume of 14,258,120 shares, compared to its average volume of 14,729,117. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.28. The stock has a market cap of $64.15 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. The business has a 50 day moving average price of $60.99 and a 200-day moving average price of $62.25. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $70.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. As a group, analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current 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.