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2 Bulls, 1 Bear: Sohn Conference Takes On Facebook (FB), GrubHub (GRUB), Box (BOX)

Several of the most respected and successful hedge fund managers in the world descended on New York yesterday for the Sohn Conference, one of the premier global investment conferences, and Insider Monkey founder Ian Dogan was in attendance to share coverage from the event.

Speakers at the event, which supports pediatric cancer research and treatment, included David Einhorn of Greenlight Capital, Glen Kacher of Light Street Capital, and Chamath Palihapitiya of Social Capital. Three of the most prominent stocks pitched at the event were Box Inc (NYSE:BOX), GrubHub Inc (NYSE:GRUB), and Facebook Inc (NASDAQ:FB), two of which garnered praise from their respective pitchers, while the other…didn’t. We’ll look at those pitches and the investors behind them below.

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GrubHub Inc (NYSE:GRUB)

The online food ordering company was pitched by Li Ran, the CEO of Half Sky Capital, and represented one of several stocks pitched at the event that had strong ties to Millenials. Ran called one slide, which showed that restaurant sales growth is outpacing grocery store spending growth, the “Millenials can’t cook” chart. Ran expects GrubHub Inc (NYSE:GRUB) to achieve widespread growth based on her firm’s surveying of restaurant managers, with sales expected to rise in every city. GrubHub has achieved market penetration of just 5% thus far in the U.S, so there’s considerable room for growth.

On the other hand, Gabelli Research initiated coverage of GrubHub Inc (NYSE:GRUB) yesterday with a ‘Hold’ rating, stating that while they like the stock’s long-term growth potential, they believe its current valuation is maxed out after 200% gains since the middle of last April. Competition in the meal delivery space is also accelerating, with GrubHub’s share of the growing U.S market dropping from 60% to 50% during the seven-month period ended March.

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On the next page we’ll look at look at the pitches made on Box Inc (NYSE:BOX) and Facebook Inc (NASDAQ:FB).

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