5 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management

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

Millennium Management’s Stake Value: $265 million

Percentage of Millennium Management’s 13F Portfolio: 0.13%

Number of Hedge Fund Holders: 110

PayPal Holdings, Inc. (NASDAQ:PYPL) is a financial technology firm that provides a payment platform for consumers and companies to transfer funds to each other. Some of the services that it offers are transferring and withdrawing funds alongside holdings balances.

PayPal Holdings, Inc. (NASDAQ:PYPL) reported $6 billion in revenue and $1.11 in non-GAAP EPS for its fourth fiscal quarter, beating analyst revenue estimates but missing them for EPS. SMBC Nikko lowered the company’s price target to $105 from $125 in April 2022, outlining that the company’s management is yet to send significant positive signals in light of the company’s recent troubles.

Millennium Management held 1.4 million PayPal Holdings, Inc. (NASDAQ:PYPL) shares as part of its fourth quarter of 2021 investments. These were worth $265 million and they represented 0.13% of the firm’s investment portfolio. Insider Monkey’s Q4 2021 hedge fund portfolio analysis listed 110 as the company’s investors.

Ken Fisher’s Fisher Asset Management is PayPal Holdings, Inc. (NASDAQ:PYPL)’s largest shareholder. It has a $2.7 billion stake that comes courtesy of 14 million shares.

Wedgewood Partners mentioned the company in its first quarter 2022 investor letter, which stated that:

“PayPal also detracted from performance during the quarter as investors panicked in the face of the well-telegraphed run-off of eBay’s revenues. We have been aware of the runoff of eBay’s revenues since at least the third quarter of 2017.2 Although markets are supposedly efficient, maybe markets are only as efficient as long as the same shareholders are in the stock. When a shareholder base turns over several, if not dozens, of times over a 5-year time frame, perhaps old news periodically becomes “new” to a market riddled with transient shareholders. In any case, we increased our weightings in the stock for the first time since 2018 as the only thing “new”to us was the highly attractive multiple for a competitively wellpositioned business in the e-commerce industry.”