ExodusPoint Capital Management LP increased its position in shares of Etsy, Inc. (NASDAQ:ETSY – Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,128 shares of the specialty retailer’s stock after acquiring an additional 3,419 shares during the period. ExodusPoint Capital Management LP’s holdings in Etsy were worth $2,241,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Park Place Capital Corp grew its holdings in Etsy by 15.2% during the first quarter. Park Place Capital Corp now owns 1,053 shares of the specialty retailer’s stock worth $117,000 after acquiring an additional 139 shares during the period. Quantinno Capital Management LP grew its holdings in Etsy by 7.0% during the first quarter. Quantinno Capital Management LP now owns 3,830 shares of the specialty retailer’s stock worth $426,000 after acquiring an additional 250 shares during the period. AustralianSuper Pty Ltd purchased a new position in Etsy in the 1st quarter worth about $9,763,000. Victory Capital Management Inc. increased its stake in Etsy by 3.5% in the 1st quarter. Victory Capital Management Inc. now owns 109,706 shares of the specialty retailer’s stock worth $12,214,000 after purchasing an additional 3,722 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Etsy by 4,127.7% in the 1st quarter. Pacer Advisors Inc. now owns 105,523 shares of the specialty retailer’s stock worth $11,748,000 after purchasing an additional 103,027 shares in the last quarter. 92.98% of the stock is owned by institutional investors and hedge funds.
Etsy Stock Performance
ETSY opened at $73.57 on Friday. The business has a 50 day moving average price of $85.40 and a 200 day moving average price of $96.98. Etsy, Inc. has a twelve month low of $71.28 and a twelve month high of $149.91. The firm has a market cap of $9.05 billion, a P/E ratio of -12.53, a price-to-earnings-growth ratio of 3.67 and a beta of 2.00.
Etsy (NASDAQ:ETSY – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.42. Etsy had a negative return on equity of 69.10% and a negative net margin of 26.84%. The firm had revenue of $628.88 million during the quarter, compared to analyst estimates of $621.87 million. As a group, analysts anticipate that Etsy, Inc. will post 2.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
ETSY has been the topic of a number of analyst reports. StockNews.com initiated coverage on Etsy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Sanford C. Bernstein cut Etsy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $120.00 to $105.00 in a research note on Thursday, August 3rd. Bank of America dropped their price target on Etsy from $123.00 to $110.00 in a research note on Friday, July 28th. Morgan Stanley decreased their price objective on Etsy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, August 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Etsy in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.43.
View Our Latest Report on Etsy
Insider Buying and Selling
In other Etsy news, Director Marla J. Blow sold 600 shares of Etsy stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $73.11, for a total value of $43,866.00. Following the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at approximately $240,458.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Etsy news, Director Marla J. Blow sold 600 shares of Etsy stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $73.11, for a total value of $43,866.00. Following the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at approximately $240,458.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $95.33, for a total value of $1,987,630.50. Following the completion of the transaction, the chief executive officer now directly owns 14,674 shares in the company, valued at $1,398,872.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,998 shares of company stock worth $8,014,974. 2.60% of the stock is currently owned by insiders.
About Etsy
(Free Report)
Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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