5 Best Tech and Dividend Stocks to Buy According to Billionaire Chase Coleman

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

Coleman’s Stake Value: $217,585,000
Percentage of Chase Coleman’s 13F Portfolio: 0.50%
Number of Hedge Fund Holders: 143

PayPal Holdings, Inc. (NASDAQ: PYPL) has returned more than 66% to investors during the course of the past twelve months. The company was founded in 1998 and is ranked fourth on our list of 10 best tech and dividend stocks to buy according to billionaire Chase Coleman. Just like Alibaba Group Holding Limited (NYSE: BABA), JD.com, Inc. (NASDAQ: JD) and Amazon.com, Inc. (NASDAQ: AMZN), PayPal is one of the best stocks to buy according to billionaire Chase Coleman.

On May 13, PayPal partnered with Google Cloud to scale and guard its infrastructure for the future. PayPal has become a payment method for Google Ads and Google Workspace. On May 05, the company reported Q1 2021 revenue of $6.03 billion, up 30.5% YoY, beating the estimates by $130 million. On February 4, Atlantic Equities analyst Kunaal Malde initiated a coverage on the stock, rating it as “Overweight,” with a price target of $315.00.

The hedge fund chaired by Chase Coleman holds 896,001 shares in the company worth $217 million. 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 the preceding quarter worth $16 billion. Based on our calculations, PayPal Holdings, Inc. (NASDAQ: PYPL) ranks 8th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Polen Capital Management mentioned PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q4 2020 investor letter

“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.”