Top 5 Stock Picks of Roberto Mignone’s Bridger Management

2. GoDaddy Inc. (NYSE:GDDY)

Bridger Management’s Stake Value: $31,020,000
Percentage of Bridger Management’s 13F Portfolio: 6.99%
Number of Hedge Fund Holders: 40

GoDaddy Inc. (NYSE:GDDY) offers web hosting and domain name registration services. It provides tools for hosting, creating, and securing websites. 40 hedge funds tracked by Insider Monkey reported owning stakes in the Tempe-based company as of the end of the second quarter, down from 43 in the previous quarter. The total value of the stakes was over $1.50 billion.

GoDaddy Inc. (NYSE:GDDY) announced “in-lineish” Q2 earnings and dropped its FY22 revenue target. Thus Evercore ISI analyst Mark Mahaney on August 4 removed GoDaddy Inc. (NYSE:GDDY) from the firm’s ‘Tactical Outperform’ list. He maintained an ‘In Line’ rating and a $91 price objective on the stock.

Bridger Management started building its position in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter of 2016. In Q2 2022, the hedge fund slashed its position in the company by 30%, maintaining a stake worth $31.02 million. GoDaddy Inc. (NYSE:GDDY) accounted for 6.99% of Roberto Mignone’s portfolio.