Light Street Capital Portfolio: Top 5 Stocks

In this article, we discuss the top 5 stocks in Glen Kacher’s Light Street Capital’s portfolio. If you wish to see our detailed analysis of Kacher’s history, investment philosophy, and hedge fund performance, you can take a look at Light Street Capital Portfolio: Top 10 Stocks.

5. Etsy, Inc. (NASDAQ:ETSY)

Light Street Capital’s Stake Value: $74.54 million
Percentage of Light Street Capital’s 13F Portfolio: 3.23%
Number of Hedge Fund Holders: 47

Etsy, Inc. (NASDAQ:ETSY) operates two-sided online marketplaces that connect people and buyers, and sellers around the world with a focus on handmade or vintage items and craft supplies.

According to Light Street Capital’s 13F filing for the second quarter, the investment firm owns 362,130 shares in Etsy, Inc. (NASDAQ:ETSY). As of the end of the second quarter, 47 hedge funds tracked by Insider Monkey reported owning stakes in Etsy, Inc. (NASDAQ:ETSY). The total worth of these stakes is $1.73 billion. This is compared to 53 funds bullish on the company in the previous quarter, with a total worth of $1.64 billion.

On October 25, Wedbush analyst Ygal Arounian raised the price target on Etsy, Inc. (NASDAQ:ETSY) to $264 from $195, and kept an Outperform rating on the shares of the company.

Out of the hedge funds being tracked by Insider Monkey, Jim Simons’ Renaissance Technologies is the top shareholder of Etsy, Inc. (NASDAQ:ETSY), with over 1.76 million shares, worth more than $362.9 million.

In its first-quarter investor letter, Polen Capital mentioned Etsy, Inc. (NASDAQ:ETSY):

“Etsy continued to be a top contributor in the Portfolio during the first quarter. Etsy experienced record levels of demand in 2020. Throughout the beginning of this year, the business has continued to see accelerated growth trends. The company’s recently announced fourth-quarter results provided numerous data points that highlight Etsy’s success in both broadening and deepening the relationship it has with buyers and sellers on its platform. In fact, Etsy now stands as the fourth largest e-commerce site in the U.S. Repeat buyers have grown nearly 100% year-over-year, despite mask sales, which grew rapidly at the onset of the pandemic, shrinking to less than 5% of sales.