Top 5 Stock Picks of Eli Cohen’s Crescent Park Management

3. GoDaddy Inc. (NYSE:GDDY)

Crescent Park Management’s Stake Value: $48,736,000
Percentage of Crescent Park Management’s 13F Portfolio: 7.93%
Number of Hedge Fund Holders: 41

GoDaddy Inc. (NYSE:GDDY) is a company that offers domain registration and web hosting services. It offers website creation, hosting, and security services. Securities filings for Q4 2021 reveal that Eli Cohen’s Crescent Park Management owns 574,311 shares of GoDaddy Inc. (NYSE:GDDY), worth $48.74 million, representing 7.93% of the total 13F portfolio. Eli Cohen purchased GoDaddy Inc. (NYSE:GDDY) shares in the second quarter of 2015.

On May 5, Benchmark analyst Mark Zgutowicz raised his price target on GoDaddy Inc. (NYSE:GDDY) from $102 to $106 and maintained a Buy rating after the company reported satisfactory Q1 revenue growth and year-over-year GMV growth of 20%, which he described as significant progress. On May 4, GoDaddy Inc. (NYSE:GDDY) posted earnings for the first quarter of 2022. The revenue over the period was $1 billion, up 11.0% Y/Y, above market estimates by $10.8 million.

Investors were bullish on GoDaddy Inc. (NYSE:GDDY) in the fourth quarter of 2021, as 41 hedge funds held stakes worth $2.86 billion in the company. This is an increase from the previous quarter, when 37 hedge funds owned shares of GoDaddy Inc. (NYSE:GDDY).

In its Q3 2021 investor letter, Canterbury Tollgate mentioned GoDaddy Inc. (NYSE:GDDY). Here is what the fund has to say:

“GoDaddy (GDDY) in particular sold off after reporting quarterly earnings in early August. Yet they are still growing the top line by more than 10 percent per annum. Short term pain creates opportunity. Presently GDDY trades at a greater than 5.5 percent trailing FCF yield, and a 7.2 percent 2021 yield based on my own (lower than consensus) estimation. Deferred revenue continues to improve. CEO Aman Bhutani and team have done an excellent job rebranding the company. I’m confident they will continue to address challenges along the way and keep GoDaddy on the right path.”