Stanley Druckenmiller is Dumping These 5 Stocks

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

Number of Hedge Fund Holders: 143  

PayPal Holdings, Inc. (NASDAQ: PYPL) is ranked first on our list of 10 stocks Stanley Druckenmiller is dumping. The company markets payments services and operates from California. Securities filings reveal that Duquesne Capital first owned a stake in the firm in the first quarter of 2020. The fund sold off its entire stake in the payments firm in the second quarter of 2021. It paid an estimated average price of $95.74 per share for the stake. At the end of June, the shares were trading at $291.48. 

On July 29, investment advisory Morgan Stanley maintained an Overweight rating on PayPal Holdings, Inc. (NASDAQ: PYPL) stock and raised the price target to $340 from $337, calling engagement and acceptance expansion positive growth indicators for the company. 

At the end of the second quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $16 billion in PayPal Holdings, Inc. (NASDAQ: PYPL), the same as in the preceding quarter worth $14 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, 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.”

You can also take a peek at 10 Best Medical Stocks Under $10 and 15 Best Warren Buffett Stocks to Buy Now.

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