5 Technology Stocks to Buy According to Billionaire Mario Gabelli

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

Number of Hedge Fund Holders: 143   

PayPal Holdings, Inc. (NASDAQ: PYPL) is a California-based technology company with core interests in the digital payments industry. It is placed fourth on our list of 10 technology stocks to buy according to Mario Gabelli. 13F filings reveal that GAMCO Investors owned 114,063 shares in the company at the end of the second quarter of 2021 worth $33 million, representing 0.28% of the portfolio. 

On July 29, investment advisory Morgan Stanley reiterated an Overweight rating on PayPal Holdings, Inc. (NASDAQ: PYPL) stock and raised the price target to $340 from $337, appreciating the earnings results posted by the firm for the second quarter.

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.”