Top 5 Stock Picks of Daniel Patrick Gibson’s Sylebra Capital Management

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.”