In this article, we discuss Michael Weisberg’s Crestwood Capital Management’s top 5 stocks. If you want our detailed analysis of Michael Weisberg’s history, investment philosophy, and hedge fund performance, go directly to Michael Weisberg’s Crestwood Capital Management’s Top 10 Stocks.
5. ANSYS, Inc. (NASDAQ:ANSS)
Crestwood Capital Management’s Stake Value: $17,336,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 6.50%
Number of Hedge Fund Holders: 46
ANSYS, Inc. (NASDAQ:ANSS), a top stock in Michael Weisberg’s portfolio for the second quarter, is a Pennsylvania-based software company that offers engineering simulation software that facilitates design and testing of new products. Crestwood Capital Management owns 49,952 shares in ANSYS, Inc. (NASDAQ:ANSS), worth $17.3 million, representing 6.50% of the firm’s Q2 portfolio.
As of the second quarter of 2021, 46 hedge funds reported owning stakes in ANSYS, Inc. (NASDAQ:ANSS), up from 33 in the preceding quarter.
On November 3, ANSYS, Inc. (NASDAQ:ANSS) reported earnings for the third quarter. The Q3 EPS came in at $1.59, beating estimates by $0.24.
Matthew Hedberg from RBC Capital on November 5 raised the price target on ANSYS, Inc. (NASDAQ:ANSS) from $380 to $425, keeping a Sector Perform rating on the stock. He stated that the Q3 earnings were strong, and the improving SMB segment is a plus, but Hedberg’s neutral stance on ANSYS, Inc. (NASDAQ:ANSS) was a result of the stock’s present valuation.
Here is what Baron Growth Fund has to say about ANSYS, Inc. (NASDAQ:ANSS) in its Q1 2021 investor letter:
“ANSYS, Inc. is a leading provider of physics-based simulation software used to evaluate how products will perform under various scenarios. Shares fell amid a broader market correction in software valuations after a robust 2020. We retain conviction as ANSYS presented strong growth with large accounts and resiliency in its core business throughout 2020, supported by its diversified customer base and focus on secular growth initiatives.”
4. Palantir Technologies Inc. (NYSE:PLTR)
Crestwood Capital Management’s Stake Value: $17,336,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 6.72%
Number of Hedge Fund Holders: 26
Palantir Technologies Inc. (NYSE:PLTR) is a software company that aims to create platforms that integrate, manage, and secure data, while designing machines that can learn human instincts and provide insights on critical data analysis. Crestwood Capital Management holds a $17.3 million stake in Palantir Technologies Inc. (NYSE:PLTR) as of June this year, which accounts for 6.72% of the firm’s portfolio.
As of the second quarter of 2021, 26 hedge funds monitored by Insider Monkey reported owning stakes in Palantir Technologies Inc. (NYSE:PLTR), down from 32 in the preceding quarter.
Brad Zelnick, an analyst from Deutsche Bank, on November 1, kept a Hold rating on Palantir Technologies Inc. (NYSE:PLTR) with a $25 price target. While Zelnick was impressed with the tech driven AI analytics at Palantir Technologies Inc. (NYSE:PLTR), he was uncertain about the long-term economics of the business, in terms of sustainable pricing and capability to win the down-market.
Here is what Guardian Fund has to say about Palantir Technologies Inc. (NYSE:PLTR) in its Q2 2021 investor letter:
“The success of the private sector to innovate in order to help people through the lockdowns and to produce vaccines at record speed at scale has been impressive. The fact that almost every public institution was struggling to be effective no matter how hard some of the people worked, shows the fundamental need of the public sector to become data-driven and invest in data infrastructure.
Government institutions have to partner with enterprises such as Palantir to become digitalnative. The public sector will always struggle to attract the most talented engineers as compensations cannot be justified with tax money and therefore this must be a partnership with specialized private enterprises. This is a great opportunity for Palantir especially as it has already shown to be capable of working with demanding and complex public institutions entrusting it to work on the most critical and sensitive matters.
The news section of Palantir’s website gives insight into where new business is coming from. The main opportunity is in enterprise software and the faster onboarding time and increased self-service of clients is a positive sign. We believe Palantir is becoming one of the more important global software companies.
In addition, Palantir has quietly become a significant investor, investing well over USD 200 million in eight companies. Therefore, it is following the lead of companies like Tencent, Alphabet, and Shopify in establishing valuable investment portfolios.”
3. Spirit AeroSystems Holdings, Inc. (NYSE:SPR)
Crestwood Capital Management’s Stake Value: $17,602,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 6.82%
Number of Hedge Fund Holders: 35
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is an aerostructures manufacturer from Kansas, the largest company of its kind in the world. Spirit AeroSystems Holdings, Inc. (NYSE:SPR) crafts important parts for the Boeing aircraft and the Airbus A350.
Ken Herbert from RBC Capital, on October 21, kept an Outperform rating on Spirit AeroSystems Holdings, Inc. (NYSE:SPR), with a $62 price target. He stated that Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was a good candidate for investors who were looking to gain from the recovery of the commercial aerospace sector. Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s 2022 free cash flows are also an upside.
2. Shopify Inc. (NYSE:SHOP)
Crestwood Capital Management’s Stake Value: $20,807,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 8.06%
Number of Hedge Fund Holders: 85
Shopify Inc. (NYSE:SHOP) is a Canadian multinational e-commerce platform that houses multiple online retailers, allowing them to connect with customers and vice versa. As of 2021, more than 1.7 million businesses across 175 countries are listed on Shopify Inc. (NYSE:SHOP). A top stock according to Michael Weisberg, Crestwood Capital Management owns 14,242 shares in Shopify Inc. (NYSE:SHOP), amounting to $20.8 million. Shopify Inc. (NYSE:SHOP) accounts for 8.06% of the investment portfolio managed by Michael Weisberg as of June this year.
As of the second quarter, 85 hedge funds were long Shopify Inc. (NYSE:SHOP), down from 91 in the preceding quarter.
Deutsche Bank analyst Bhavin Shah on November 1 initiated coverage of Shopify Inc. (NYSE:SHOP) with a $1650 price target and a Hold rating. He took into account the potential short-term supply chain hindrances and the limited near-term catalysts for Shopify Inc. (NYSE:SHOP), even though he remained bullish on the future prospects of Shopify Inc. (NYSE:SHOP).
Here is what ClearBridge Investments has to say about Shopify Inc. (NYSE:SHOP) in its Q2 2021 investor letter:
“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”
1. ICICI Bank Limited (NYSE:IBN)
Crestwood Capital Management’s Stake Value: $21,446,000
Percentage of Crestwood Capital Management’s 13F Portfolio: 8.31%
Number of Hedge Fund Holders: 28
The top stock in Michael Weisberg’s Q2 portfolio is ICICI Bank Limited (NYSE:IBN), which is an Indian financial services company, headquartered in Mumbai, India. ICICI Bank Limited (NYSE:IBN), via its subsidiaries, caters to corporate and retail customers, offering services like investment banking, insurance, venture capital, and asset management. Crestwood Capital Management owns 1.25 million shares in ICICI Bank Limited (NYSE:IBN), worth $21.4 million, representing 8.31% of the firm’s 13F portfolio at the end of June this year.
On October 23, ICICI Bank Limited (NYSE:IBN) announced earnings for the third quarter. The EPS for the quarter came in at $0.21, missing estimates by -$0.01. The Q3 revenue for ICICI Bank Limited (NYSE:IBN) beat estimates by $131.15 million, coming in at $2.20 billion.
At the end of the second quarter of 2021, 28 hedge funds monitored by Insider Monkey’s database of elite funds were long ICICI Bank Limited (NYSE:IBN), down from 31 in the preceding quarter.
You can also take a look at 10 Best Roth IRA Stocks To Buy According To Hedge Funds and 10 Stocks Making Noise After Releasing Their Earnings Reports.
