5 Tech Stocks to Buy According to Billionaire Philippe Laffont

3. PayPal Holdings Inc. (NASDAQ:PYPL)

Coatue Management’s Stake Value: $1.08 billion
Percentage of Coatue Management’s 13F Portfolio: 4.25%
Number of Hedge Fund Holders: 

Multinational financial services company PayPal Holdings Inc. (NASDAQ:PYPL) ranks third on our list of the 10 tech stocks to buy according to billionaire Philippe Laffont. The company engages in the provision of online payment systems in a number of countries across the globe. The PYPL stock’s revenue is expected to grow by 20% annually in the next 5 years.

Philippe Laffont’s Coatue Management currently holds over 3.7 million shares of PayPal Holdings Inc. (NASDAQ:PYPL). These shares amount to more than $1.08 billion and account for 4.25% of the fund’s investment portfolio. At the end of the second quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $16.3 billion in PayPal Holdings, Inc. (NASDAQ:PYPL). The number of hedge funds with stakes in the company remained unchanged for the first and second quarter.

On September 9, DA Davidson analyst Christopher Brendler maintained his Buy rating on PayPal Holdings Inc. (NASDAQ:PYPL), alongside a $325 price target on the company’s shares.