Tiger Global Buys Etsy, Amazon; Tiger Management Acquires Devry

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Tiger Global Buys Etsy, Amazon; Tiger Management Acquires Devry
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Tiger Global Management reported that its equity portfolio had a market value of $9,780,102,000 in the second quarter based on its 13F filing with the Securities and Exchange Commission (SEC).

Charles “Chase” Coleman III is the hedge fund manager of Tiger Global. He is a protégé of legendary investor Julian Robertson of Tiger Management.

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On the other hand, Tiger Management reported that its equity portfolio had a market value of $708,326,000 in the second quarter based on its 13F filing.

Tiger Global and Tiger Management both have investments in JD.com. During the quarter, the hedge funds increased its position in the company. JD.com is the largest stockholdings of the hedge funds.

Tiger Global increased its stake in JD.com by 49,254,282 shares to 70,175,611 shares. Its stockholding in the company had a market value of more than $2.3 billion.

Tiger Management bought additional 2,708,302 shares of JD.com. Its stake in the company is now 3,136,195 shares worth approximately $106.94 million.

Tiger Global largest new stockholdings

Based on its filing, the three largest new stockholdings of Tiger Global included Amazon.com, Etsy and Tripadvisor.

The hedge fund acquired 747,000 shares of Amazon.com worth approximately $24.26 million, which represent 3.32% of its equity portfolio.

The e-commerce giant received approval from the United States Patent & Trademark Office (USPTO) for its patent related to its concept of delivering packages to customers through public transportation such as buses, subways and trains.

During the quarter, Tiger Global purchased 10,000,000 shares of Etsy for approximately $140.5 million. The stock represents 1.44% of its equity portfolio. Earlier this month, the stock price of Etsy suffered a significant decline after reporting a wider loss in the second quarter.

Etsy’s stock is trading at $17.18 per share, up by more than 1% around 3:00 in the afternoon in New York today. Over the past 52-weeks, the shares of the company traded between $12.80 and $35.74 per share. Etsy lost more than 42% of stock value year-to-date.

Tiger Global bought 1,222,425 shares of Tripadvisor worth around $106.52 million, which accounts 1.09% of its equity portfolio. The stock price of Tripadvisor gained more than 1% to $72.49 per share at the time of this writing.

Tiger Management top three new stockholdings

Tiger Management’s three largest new stockholdings in the second quarter included DeVry Education Group, Macquarie Infrastructure, and SPDR S&P Homebuilders.

The hedge fund acquired 861,000 shares of DeVry Education Group worth approximately $25.8 1 million, which accounts 3.64 of its equity portfolio. The shares of the company declined more than 1% to $27.36 a piece at the time of this writing.

Wall Street analysts have a 12-month price target of $35.88 on the shares of DeVry Education Group based on data compiled by Thomson Reuters. The company’s stock traded between $27.31 and $49.61 per share. It lost more than 42% of stock value year-to-date.

Tiger Management bought 244,000 shares of Macquarie Infrastructure worth approximately $20.16 million, which represent 2.85% of its equity portfolio. The company gained more than 9% of stock value year-to-date. In June, the company appointed Liam Stewart at Chief Financial Officer.

Tiger Management purchased 345,000 shares (CALL) of SPDR S&P Homebuilders worth around $12.63 million, which account 1.29% of its equity portfolio.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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