Is Paypal Holdings Inc (PYPL) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. Intriguingly, Stephen Mandel’s Lone Pine Capital dumped the largest investment of the “upper crust” of funds followed by Insider Monkey, totaling close to $404.5 million in stock. Jim Simons’ fund, Renaissance Technologies, also said goodbye to its stock, about $122.8 million worth of Paypal Holdings Inc (NASDAQ:PYPL) shares.

Let’s now take a look at hedge fund activity in other stocks similar to Paypal Holdings Inc (NASDAQ:PYPL). We will take a look at The TJX Companies, Inc. (NYSE:TJX), General Motors Company (NYSE:GM), Metlife Inc (NYSE:MET), and salesforce.com, inc. (NYSE:CRM). This group of stocks’ market values are similar to PYPL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TJX 48 1763971 -1
GM 62 3532048 -3
MET 37 1525634 -8
CRM 66 2135618 6

As you can see these stocks had an average of 53 hedge funds with bullish positions and the average amount invested in these stocks was $2.24 billion. That figure was $4.66 billion in PYPL’s case. salesforce.com, inc. (NYSE:CRM) is the most popular stock in this table. On the other hand Metlife Inc (NYSE:MET) is the least popular one with only 37 bullish hedge fund positions. Compared to these stocks Paypal Holdings Inc (NASDAQ:PYPL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None