In this article, we discuss the 5 best green energy stocks in Cathie Wood’s portfolio. If you want to read our detailed analysis of Cathie Wood’s hedge fund, go directly and read Cathie Wood Portfolio: Green Energy Stock Picks.
5. PayPal Holdings, Inc. (NASDAQ:PYPL)
Number of Hedge Fund Holders: 123
ARK Investment Management started investing in PayPal Holdings, Inc. (NASDAQ:PYPL) during Q4 of 2016. Currently, the hedge fund holds a $198.2 million stake in the company, which represents 0.47% of the hedge fund’s 13F portfolio.
PayPal Holdings, Inc. (NASDAQ:PYPL) aims to achieve 100% renewable energy for all its leased and owned data centers by 2023. Moreover, the company’s Zettle Ocean Reader card is made from recycled plastics. This November, UBS started its coverage on PayPal Holdings, Inc. (NASDAQ:PYPL) with a Buy rating and a $263 price target, highlighting a buying opportunity in the stock’s recent pullback.
Of the 867 hedge funds tracked by Insider Monkey, 123 hedge funds had positions in PayPal Holdings, Inc. (NASDAQ:PYPL) in Q3, compared with 143 in the previous quarter. The consolidated value of these stakes is over $12.8 billion.
Baron Funds recently published its Q3 2021 investor letter and mentioned PayPal Holdings, Inc. (NASDAQ:PYPL) in it. Here is what the firm has to say:
“PayPal Holdings, Inc. enables digital payments for consumers and merchants worldwide. Shares fell on quarterly financial results and guidance that were below investor expectations due to a faster roll-off of eBay business, which should only be a temporary headwind. PayPal also announced the acquisition of Paidy, the leading buy-now-pay-later provider in Japan, which expands PayPal’s addressable market into a fast-growing category. We remain investors because we believe PayPal is a prime beneficiary of the secular growth of e-commerce and digital financial services.”