Top 5 Stocks Daniel Patrick Gibson’s Sylebra Capital Management is Buying

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1. Elastic NV (NYSE:ESTC)

Gibson’s Stake Value: $642,441,000
Percentage of Gibson’s 13F Portfolio: 15.93%
Number of Hedge Fund Holders: 55

Ranking first on our list of the stocks that Daniel Patrick Gibson’s Sylebra Capital Management is buying is Elastic NV (NYSE:ESTC), a company building self-managed and SaaS solutions for search, logging, analytics, and security purposes. The Elasticsearch tech is used by market leaders like eBay Inc. (NASDAQ:EBAY), Wikipedia, Yelp Inc. (NYSE:YELP), Uber Technologies, Inc. (NYSE:UBER), Lyft, Inc. (NASDAQ:LYFT), Tinder, and Netflix, Inc. (NASDAQ: NFLX). Founded in 2012, Elastic NV (NYSE:ESTC) was first established in Amsterdam and later incorporated in California. The company has a market cap of $15.125 billion.

Gibson’s Sylebra Capital Management owns about 4.4 million shares in Elastic NV (NYSE:ESTC), amounting to $642.44 million, and making up 15.93% of Gibson’s 13F portfolio. At the end of the second quarter of 2021, 55 hedge funds in Insider Monkey’s database held stakes amounting to $3.06 billion in Elastic NV (NYSE:ESTC), up from 52 in the previous quarter with stakes worth over $1.88 billion. The company reported last quarter’s earnings per share of $0.04 on August 24, beating analysts’ consensus estimates of -$0.10 by $0.14.

Greenhaven Road Capital, in their Q2 2021 investor letter, mentioned Elastic NV (NYSE:ESTC) and shared their insights about the company. Here is what they said:

“Our top five holdings represent more than half of our total long exposure and therefore five greatly influence overall returns. Elastic Software (ESTC) – Management continues to innovate and execute, rolling out new products and converting existing users from free to paid versions. They made adjustments to their licensing agreements, making it more difficult for Amazon to rip them off, and provided forward guidance that convinced investors that the growth train will continue to run for at least a few more years.”

You can also take a look at 15 Dividend Stocks People Buy for Early Retirement and Cathie Wood Is Selling These 10 Stocks.

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