5 Best Roth IRA Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 143  

Keefe Bruyette analyst Sanjay Sakhrani maintained an Outperform rating on PayPal Holdings, Inc. (NASDAQ:PYPL) stock with a price target of $340, highlighting that a potential purchase of Pinterest by the company could make sense for the firm in the context of a long-term vision of a super application. Other investment advisors like Cowen and Baird also took this point of view on the acquisition. The company purchased Paidy, a Japanese payments platform, for $2.7 billion last month. 

PayPal Holdings, Inc. (NASDAQ:PYPL) has also been exploring investments in the equity trading sector as retail trading booms across the globe. A report indicates that the first phase of the new platform will be limited to users in the US. 

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 same as in the preceding quarter worth $14.7 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.”