Billionaire John Griffin Bets On These Post IPO Companies

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TransUnion (NYSE:TRU) is a credit-reporting firm that made its debut in the secondary market on June 24. As of June 30, Blue Ridge owns 3.35 million shares of the company worth over $84 million. The company’s stock has advanced by 16.5%  from its IPO price of $22.50. On August 10, the company announced that it has partnered with India-based peer-to-peer lending marketplace platform Faircent to provide the latter data and analytics solutions. Several analysts have initiated a coverage of the company since its. The latest among them is Evercore Partners, which initiated coverage with a ‘Buy’ rating and a $30 price target. Dmitry Balyasny‘s Balyasny Asset Management also reported owning 427,349 shares of the company in its latest 13F filing.

Etsy Inc (NASDAQ:ETSY) was the only recently-public stock in which Blue Ridge initiated a stake and which has fallen significantly since its debut. The fund’s position contained 695,122 shares worth $9.77 million at the end of June. Although Etsy Inc (NASDAQ:ETSY)’s stock was priced at $16 during the IPO, it opened at nearly twice that figure on April 16 and since then has fallen below $15. Although the company beat earnings and revenue estimates for the second quarter, the stock slumped after the results announcement on concerns that most of that revenue growth came on the back of huge and unsustainable advertising expenditure. The company declared a loss of $0.07 per share on revenue of $61.40 million, compared to the Street’s estimate of a loss of $0.08 on revenue of $42.50 million. Several analysts have also raised concerns over the company trying to sell all kinds of products on its platform instead of just being an online marketplace for artisans that it intended to be. On August 6, Wedbush Securities reiterated its ‘Underperform’ rating on the stock with a $9 price target. Chase Coleman‘s Tiger Global Management, which reported a stake in the company even before its IPO,  was the largest shareholder of Etsy Inc (NASDAQ:ETSY) at the end of June among the hedge we track, owning 10 million shares.

Disclosure: None

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