Coatue Management Reduces $20M in PayPal Holdings, Inc. ($PYPL)
Key Points
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Coatue Management reduced its position in PayPal Holdings, Inc. ($PYPL) by 26.74% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,243,590 shares of PayPal Holdings, Inc. after selling 453,915 shares during the quarter. Coatue Management's holdings in PayPal Holdings, Inc. were worth $53.70 million as of its most recent filing.
PayPal Holdings, Inc. Stock Down 19.5%
Shares of PayPal Holdings, Inc. ($PYPL) traded around $43.18 on Saturday, down 19.5% for the day.
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About PayPal Holdings, Inc.
PayPal Holdings, Inc. operates a technology platform that enables digital payments for merchants and consumers worldwide. The company operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, consumer credit and debit products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, Honey, and Paidy names. The company was founded in 1998 and is headquartered in San Jose, California.
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