In this article, we will take a look at the Top 3 Stock Picks of Colin Moran’s Abdiel Capital. To read our analysis of Colin Moran’s profile, investment strategy, and 13F holdings, you can go to the Top 8 Stock Picks of Colin Moran’s Abdiel Capital.
3. Floor & Decor Holdings, Inc. (NYSE:FND)
Abdiel Capital’s Stake Value: $273,787,000
Percentage of Abdiel Capital’s 13F Portfolio: 18.44%
Number of Hedge Fund Holders: 29
Floor & Decor Holdings, Inc. (NYSE:FND) is a differentiated, high-growth, multi-channel specialty retailer of hard surface flooring and related accessories. It operates 174 large warehouse-format stores and 5 design studios across 34 states in the United States, offering tile, wood, laminate, vinyl, and natural stone flooring.
As of Q2 2022, Colin Moran’s Abdiel Capital holds 4,348,584 shares of Floor & Decor Holdings, Inc. (NYSE:FND), accounting for 18.44% of the hedge fund’s 13F portfolio. The hedge fund increased its stake by 2% in Q2 2022, as compared to the previous quarter.
In August, Floor & Decor Holdings, Inc. (NYSE:FND) released the financial results for the quarter ended June 30, 2022. Its net revenue increased by 27% y-o-y to $1.1 billion, while its net income shrunk by 1% y-o-y to $82 million, for the three months. It reported a normalized EPS of $0.76 for the quarter, beating the consensus by $0.03.
As of Q2 2022, 29 of the 895 hedge funds tracked by Insider Monkey held Floor & Decor Holdings, Inc. (NYSE:FND) shares, valued at a combined total of $901 million. Its largest hedge fund shareholder was Warren Buffett’s Berkshire Hathaway holding 4.8 million shares valued at $301 million.
2. Global-E Online Ltd. (NASDAQ:GLBE)
Abdiel Capital’s Stake Value: $298,857,000
Percentage of Abdiel Capital’s 13F Portfolio: 20.13%
Number of Hedge Fund Holders: 17
Petah-Tikvah, Israel-based Global-E Online Ltd. (NASDAQ:GLBE) is a leading technology platform to enable global, direct-to-consumer cross-border e-commerce growth. Its e-commerce solutions combine localization capabilities, business intelligence models, and streamlined international logistics, enabling online retailers to expand their brand worldwide.
Global-E Online Ltd. (NASDAQ:GLBE) is ranked #2 on the list of Top 8 Stock Picks of Colin Moran’s Abdiel Capital based on its portfolio weight of 20.13%, as of Q2 2022. The hedge fund holds 14,816,911 shares of Global-E Online Ltd. (NASDAQ:GLBE), 49% more than the number of shares held at the end of the previous quarter.
In August, Global-E Online Ltd. (NASDAQ:GLBE) released the financial results for Q2 2022. Its total revenue increased by 52% y-o-y to $87 million, while it generated a net loss of $49 million, for three months ended June 30, 2022. It reported a normalized EPS of $0.07 for the quarter, beating the consensus by $0.06.
Following the earnings release, Morgan Stanley analyst James Faucette raised the price target on Global-E Online Ltd. (NASDAQ:GLBE) shares from $51 from $34 and maintained an ‘Overweight’ rating for the shares.
As of Q2 2022, 17 of the 895 hedge funds tracked by Insider Monkey held Global-E Online Ltd. (NASDAQ:GLBE) shares valued at a combined total of $509 million. Andreas Halvorsen’s Viking Global was its largest hedge fund shareholder after Abdiel Capital, with ownership of 3 million shares valued at $61 million.
1. Appian Corporation (NASDAQ:APPN)
Abdiel Capital’s Stake Value: $394,420,000
Percentage of Abdiel Capital’s 13F Portfolio: 26.57%
Number of Hedge Fund Holders: 18
Appian Corporation (NASDAQ:APPN) provides a low-code automation platform that accelerates the creation of high-impact business applications. Its platform allows organizations to discover, design, and automate enterprise-grade workflows and custom applications with little or no coding.
Colin Moran’s Abdiel Capital owns 8,328,118 shares of Appian Corporation (NASDAQ:APPN), accounting for 26.57% of its 13F portfolio. The hedge fund increased its stake by 40% in Q2 2022, as compared to the previous quarter.
In August, Appian Corporation (NASDAQ:APPN) released its financial results for the quarter ended June 30, 2022. Its total revenues increased by 33% y-o-y to $110 million, while its net loss surged by 108% y-o-y to $49 million, for the three months. It reported a normalized EPS of -$0.46 for the quarter, missing the consensus by $0.12.
On September 12, KeyBanc analyst Thomas Blakey initiated coverage of Appian Corporation (NASDAQ:APPN) with an ‘Overweight’ rating and a $60 price target. The analyst sees “strong engagement and process mining synergies allowing Appian to sustain 30% growth in its Cloud subscriptions.”
As of Q2 2022, Appian Corporation (NASDAQ:APPN) shares were held by 18 of the 895 hedge funds tracked by Insider Monkey, with a total value of $463 million. StackLine Partners was its largest hedge fund shareholder after Abdiel Capital, with ownership of 0.5 million shares valued at $25 million.
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