5 Best American Stocks To Buy Now

4. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 147
Total Value of Hedge Fund Holdings: $15.9 Billion

California-based online payment company PayPal Holdings, Inc. (NASDAQ:PYPL) ranks 4th in our list of 15 best American stocks to buy now. The company was founded in 1998 and had over 377 million active accounts. PayPal Holdings, Inc. first went public in 2002 with a share price of $40. In April 2020, during the enforced lockdown, the company profited from the rise of e-commerce where the number of new accounts increased by 7.4 million. Earlier this year, PayPal acquired US-based returns, and logistics company, Happy Returns, to develop an end-to-end marketplace platform.

PayPal Holdings, Inc. (NASDAQ:PYPL) has a market cap of $287.3 billion. The company’s first-quarter 2021 net income came in at $1.09 billion, up from $84 million in the first quarter of 2020. Shares of PYPL increased 65% over the past twelve months.

There were 147 hedge funds that reported owning stakes in PayPal Holdings, Inc. (NASDAQ:PYPL) at the end of the fourth quarter, down from 150 funds a quarter earlier. The total value of these stakes at the end of Q4 is $15.9 billion.

Polen Capital Management mentioned PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q4 2020 investor letter: 

“For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”