Etsy Shares Rising After Tiger Global Stake
Etsy Inc (NASDAQ: ETSY) shares were up more than 7 percent on Tuesday, potentially due to the stake Tiger Global Management LLC has taken in the company.
Tiger Global disclosed the stake in the early part of Monday's after-hours trading session. The hedge fund bought an equity size of 10,000,000 shares, which accounts for 8.9 percent of the outstanding shares.
Tiger Global's most recent purchases from last quarter are: JD.Com Inc(ADR) (NASDAQ: JD), Priceline Group Inc (NASDAQ: PCLN), Kate Spade & Co (NYSE: KATE), TriNet Group Inc (NYSE: TNET) and VASCO Data Security International, Inc (NASDAQ: VDSI).
Tiger's sector allocation is decently spread around, with 45 percent in Consumer Discretionary, 35 percent in Information Technology, 11 percent in Industrials, 8 percent in Transports and the remaining in healthcare and consumer staples.
Shares of Etsy traded recently at $15.93, up 7.2 percent.
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