In this article, we discuss the top 5 Stock Picks of Daniel Patrick Gibson’s Sylebra Capital Management. If you want to read our detailed analysis of Daniel Patrick Gibson’s history, investment philosophy, and hedge fund performance, go directly to Top 10 stock picks of Daniel Patrick Gibson’s Sylebra Capital Management.
5. 8×8, Inc. (NYSE:EGHT)
Sylebra Capital Management’s Stake Value: $318.3 million
Percentage of Sylebra Capital Management’s 13F Portfolio: 7.16%
No. of Hedge Fund Holders: 27
8×8, Inc. (NYSE:EGHT) is engaged in providing contact-center-as-a-service and unified-communications-as-a-service software applications. Its unified platform helps in enabling omnichannel communication to help employees in communicating through voice, video, text, chat, and contact centers.
The company is fifth on our list of top 10 stock picks of Daniel Patrick Gibson’s Sylebra Capital Management.
At the end of the third quarter of 2021, 27 funds out of the 867 tracked by Insider Monkey had stakes in 8×8, Inc. (NYSE:EGHT), down from 29 in the previous quarter. The company represents 7.16% of the total investment portfolio of the hedge fund at the end of the third quarter of 2021.
Colliers Securities analyst Catharine Trebnick kept a “buy” rating on 8×8, Inc. (NYSE:EGHT), giving a price target of $32.
4. Opendoor Technologies Inc. (NASDAQ:OPEN)
Sylebra Capital Management’s Stake Value: $401.5 million
Percentage of Sylebra Capital Management’s 13F Portfolio: 9.03%
No. of Hedge Fund Holders: 35
Opendoor Technologies Inc. (NASDAQ:OPEN) is the digital platform for residential real estate. The platform helps in enabling customers to buy and sell houses online. The company generates revenue with the help of home sales, along with other revenue from real estate services.
Sylebra Capital Management owns about 19.5 million shares in Opendoor Technologies Inc. (NASDAQ:OPEN), amounting to $401.5 million, and making up 9.03% of Daniel Patrick Gibson’s 13F portfolio.
Baron Opportunity Fund published its second-quarter investor letter and mentioned Opendoor Technologies Inc. (NASDAQ:OPEN). Here is what the fund said:
“Opendoor Technologies Inc. operates a digital platform for home purchases and sales on which buyers can tour homes, make offers, and secure financing, and sellers can receive next-day cash offers with flexible close dates. Shares were down in the quarter given rising mortgage rates and the potential knock-on effects to the housing environment. Despite investor concerns, the housing market remains robust. As the iBuying industry leader disrupting an enormous and highly inefficient industry, we believe Opendoor will grow regardless of the housing market environment.”
3. PagSeguro Digital Ltd. (NYSE:PAGS)
Sylebra Capital Management’s Stake Value: $490.4 million
Percentage of Sylebra Capital Management’s 13F Portfolio: 11.04%
No. of Hedge Fund Holders: 41
Ranked third on our list of top 10 stock picks of Daniel Patrick Gibson’s Sylebra Capital Management is PagSeguro Digital Ltd. (NYSE:PAGS), which acts as a provider of financial technology solutions. These solutions are focused primarily on Micro-Merchants, Small Companies, and Medium-Sized Companies (SMEs) in Brazil.
At the end of the third quarter of 2021, the company represents 11.04% of the total investment portfolio of the hedge fund.
At the end of the third quarter of 2021, 41 funds out of the 867 tracked by Insider Monkey held stakes worth $2.44 billion, up from 40 in the preceding quarter worth $2.39 billion. Bradesco Corretora reduced their price target on PagSeguro Digital Ltd. (NYSE:PAGS) from $63.00 to $33.00 and has given a “neutral” rating on the stock in the research report dated 22nd November.
Artisan Partners, an investment management firm, published its first-quarter 2021 investor letter and mentioned PagSeguro Digital Ltd. (NYSE:PAGS). Here is what the fund has to say:
“We also reduced our position in PagSeguro. PagSeguro is making good progress establishing a fast-growing digital bank and expanding its Brazilian payments business despite the pandemic. However, the company’s growth initiatives will require another year of heavy investment spending in 2021. This comes as Brazil’s progress combatting COVID-19 trails many major economies’, casting a cloud over the broader economic outlook. Given these potential headwinds, we trimmed our position to fund higher conviction holdings.”
2. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Sylebra Capital Management’s Stake Value: $503.4 million
Percentage of Sylebra Capital Management’s 13F Portfolio: 11.33%
No. of Hedge Fund Holders: 65
Advanced Micro Devices, Inc. (NASDAQ:AMD) is the next stock on our list of top 10 stock picks of Daniel Patrick Gibson’s Sylebra Capital Management. The company is engaged in developing high-performance computing and visualization products. It is responsible for innovation in high-performance computing, graphics, and visualization technologies.
According to the 13F filings for the third quarter of 2021, the fund managed by Daniel Patrick Gibson holds 4.89 million shares in the company.
Deutsche Bank analyst Ross Seymore kept a “hold” rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) and has raised his price target on the stock to $120 from $113. At the end of the third quarter of 2021, 65 funds out of the 867 tracked by Insider Monkey held stakes worth $5.25 billion.
1. Elastic N.V. (NYSE:ESTC)
Sylebra Capital Management’s Stake Value: $675.8 million
Percentage of Sylebra Capital Management’s 13F Portfolio: 15.21%
No. of Hedge Fund Holders: 59
Elastic N.V. (NYSE:ESTC) is a search company and it created the Elastic Stack. This is a powerful set of software products, ingesting and storing data from any source and in any format. It performs a search, analysis, and visualization in milliseconds or less. The company, with a market cap of $11.4 billion, is first on our list of top 10 stock picks of Daniel Patrick Gibson’s Sylebra Capital Management as of the end of the third quarter.
According to the 13F filings for the third quarter of 2021, Elastic N.V. (NYSE:ESTC) represents 15.21% of the total investment portfolio. At the end of the third quarter of 2021, 59 hedge funds tracked by Insider Monkey held positions in Elastic N.V. (NYSE:ESTC). These stakes were valued at $2.98 billion.
Greenhaven Road Capital, an investment management firm, released its third-quarter 2021 investor letter and mentioned Elastic N.V. (NYSE:ESTC). Here is what the fund has to say:
“Elastic Software (ESTC) – Share prices are up more than threefold since our first purchases of Elastic Software. The company continues to report best-in-class net revenue retention (amount generated from existing customers) of 130%. With recent acquisitions, they are continuing their expansion into security. This is the company with the highest product velocity and largest addressable markets in our portfolio. With a massive base of customers using freemium/opensource products, there are fertile hunting grounds for growth.”
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