5 Best ESG Stocks to Buy Now

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

Number of Hedge Fund Holders: 143  

PayPal Holdings, Inc. (NASDAQ: PYPL) is a California-based payments company. It is ranked third on our list of 10 best ESG stocks to buy now. The company’s shares have returned 64% to investors in the past year. Amid the attention around environmental responsibility at large corporations, especially in the context of cryptocurrencies, PayPal stock stands to benefit among peers as the firm has an unblemished track record in this regard.

On June 18, PayPal Holdings, Inc. (NASDAQ: PYPL) stock jumped close to 2% as the firm announced that it was raising merchant processing fees. The company had earlier announced that it would allow third party wallet transfer of Bitcoin as well. 

At the end of the first quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $14.7 billion in PayPal Holdings, Inc. (NASDAQ: PYPL), down from 147 in the preceding quarter worth $15.9 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.”