We added 250 shares of GitLab to our High Growth model portfolio this morning. The shares were down about 9.5% from their previous close due to headline guidance concerns. In particular, despite one of the stronger revenue beats the company has recently reported, and a bookings quarter in which cRPO balance growth remained at 31%,…
We made some changes in our cyber-security holdings in the high growth portfolio. We eliminated the starter positions we had in both Palo Alto and Cloudflare. We also eliminated the position we had in Arista Networks. The positions were too small to be meaningful. The shares of Palo Alto and Cloudflare had appreciated modestly since…
We added 150 shares of Dell to the income/stability portfolio this morning at a price of $120.49. The shares have fallen almost 13% in the wake of a negative reaction to the most recent earnings report. I am not going to go through the details of the report here; the AI server piece of Dell…
Summary Shift4’s Q2 reported headline misses were misleading—revenue less network fees grew 29% and cash flow hit record highs, with strong take rates and robust backlog. The Global Blue acquisition is transformative, offering major cross-sell and some expense synergistic opportunities, yet the market underappreciates its likely impact and overstates integration risks. Valuation is at historic lows: EV/S…
After a reasonable day in terms of stock trading on Monday, the last couple of days have seen a noticeably sharp sector rotation. There are any number of reasons for that kind of action. Perhaps it was the Palantir plummet, perhaps concerns over the Jackson Hole presentation coming from the Fed Chair, or perhaps from…
Monday shares fell almost 30% on Monday after their quarterly report. In the last month the shares have fallen by 39% and they are down by 26% so far this year. This is not the isolated phenomenon it might seem to be. Other infrastructure software shares have been quite weak. Casualties have included TEAM, Confluent, and…
Pagaya shares have dipped considerably since the company’s earnings release. Pagaya has long had a trading pattern that is close to indecipherable as well as the remnants of a legacy ownership base who have used liquidity events to sell shares. It remains underfollowed by brokerage analysts. The quarter and the outlook were what they were…
Both Pagaya and Nebius have reported their financial results for Q2 this morning. Both companies reported strong numbers and both stocks have appreciated. Because of the appreciation, these two companies now constitute a weight of 22% in the high growth portfolio. That is a relatively high degree of concentration that I will monitor carefully. These…
We made some changes in the high growth portfolio this morning. We sold a bit more than half of our Xometry position at the opening and got $44.39. We sold 900 shares, leaving 700 in the portfolio of 1.59. I will reconsider the position as it is too small on a permanent basis in the…
Lots of companies have reported their Q2 results-several hundred in fact. Within our high growth portfolio 4 companies out of 8 scheduled to report this week have now done so. For the most part, the earnings reports emerging range from good to excellent. Q2 is shaping up to have been a better quarter for software…