Hedge Funds Are Selling Palantir Technologies (PLTR) and 5 Other Tech Stocks

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

Number of Hedge Fund Holders in Q4 2021: 110

Number of Hedge Fund Holders in Q3 2021: 123 

PayPal Holdings, Inc. (NASDAQ:PYPL) provides digital payments solutions. On March 9, Bank of America analyst analyst Jason Kupferberg downgraded the stock to Neutral from Buy and reduced the price target to $107 from $175, underlining that 2022 would be a “transition” year for the firm, a fact “complicated” by the war in Ukraine since the firm had a large presence in European markets. 

Wall Street concurs with this analysis on PayPal Holdings, Inc. (NASDAQ:PYPL) stock. At the end of the fourth quarter of 2021, 110 hedge funds in the database of Insider Monkey held stakes worth $9.9 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), down from 123 in the preceding quarter worth $12.8 billion.

In its Q4 2020 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“For the full year 2020, one of the top performers was PayPal Holdings, Inc. (NASDAQ:PYPL), 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.”