Pat Fallon Stock Portfolio: 5 Stocks To Consider

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

Number of Hedge Fund Holders: 123  

PayPal Holdings, Inc. (NASDAQ:PYPL) operates as a technology platform for digital payments. Mandatory filings from December 29 of last year reveal that Pat Fallon made two transactions related to PayPal Holdings, Inc. (NASDAQ:PYPL) stock on November 15. Both transactions involved buying shares of the company worth between $100,000 and $250,000. 

As growth stocks undergo a period of correction, hedge funds have been offloading PayPal Holdings, Inc. (NASDAQ:PYPL) stock. At the end of the third quarter of 2021, 123 hedge funds in the database of Insider Monkey held stakes worth $12.8 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), compared to 143 in the preceding quarter worth $16.4 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.”