Billionaire Steve Cohen Is Selling These 5 Stocks

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

Number of Hedge Fund Holders: 112

Paypal Holdings, Inc. (NASDAQ:PYPL) is one of the favorite stocks among growth investors due to its robust growth trends and strong fundamentals. Its strategy of offering crypto services has further bolstered its revenue growth trends over the past two years. Steve Cohen first initiated a position in PayPal during the second quarter of 2019 and sold out the entire stake in the December quarter of 2021. 

In its fourth quarter investor letter, Harding Loevner, an investment management firm, mentioned a few stocks, including PayPal Holdings. Here is what Harding Loevner stated:

“Within IT, PayPal reported slower growth outside its core US market and lowered its earnings guidance for 2022 just enough to catch the wrath of the expensiveness vigilantes. Viewed by sector, IT and Health Care were the biggest detractors in the quarter. Within IT, PayPal reported slower growth outside its core US market and lowered its earnings guidance for 2022 just enough to catch the wrath of the expensiveness vigilantes.”