Top 5 Stock Picks of Roberto Mignone’s Bridger Management

Page 5 of 5

1. GoDaddy Inc. (NYSE:GDDY)

Bridger Management’s Stake Value: $52,869,000
Percentage of Bridger Management’s 13F Portfolio: 8.67%
Number of Hedge Fund Holders: 43

Domain name registration and web designing are two services offered by GoDaddy Inc. (NYSE:GDDY). It provides tools for hosting, creating, and securing websites. On June 21, Trevor Young, an analyst at Barclays, maintained an Overweight rating on GoDaddy Inc. (NYSE:GDDY) while lowering his price objective from $118 to $104. The analyst predicted that the market for online tools would be slow until 2022 but said that GoDaddy Inc. (NYSE:GDDY) had the most upbeat outlook of the group.

Hedge fund sentiment was up on GoDaddy Inc. (NYSE:GDDY) stock in the first quarter, where 43 hedge funds reported bullish bets on the company, compared to 41 hedge funds with stakes in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter. In addition, Starboard Value LP was the leading shareholder of GoDaddy Inc. (NYSE:GDDY) in the first quarter, with 8.25 million shares worth $690.56 million, representing a 22% increase in holding over Q4 2021.

Bridger Management has been a long-term GoDaddy Inc. (NYSE:GDDY) investor. However, in the first quarter of 2022, the hedge fund trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 14%. As a result, Bridger Management owned 631,653 shares of GoDaddy Inc. (NYSE:GDDY) stock valued at about $52.87 million.

Investment firm Canterbury Tollgate discussed GoDaddy Inc. (NYSE:GDDY) in its Q3 2021 investor letter. 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.”

You can also take a peek at Top 10 Stock Picks of Alec Litowitz and Ross Laser’s Magnetar Capital and Top 10 Stock Picks of Andrew Wiener’s Samjo Capital.

Page 5 of 5