Lotus Technology Management LP Takes $1.06 Million Position in Etsy Inc $ETSY

Lotus Technology Management LP purchased a new position in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,098 shares of the company’s stock, valued at approximately $1,062,000. Etsy comprises approximately 1.3% of Lotus Technology Management LP’s portfolio, making the stock its 25th biggest holding.

A number of other large investors have also bought and sold shares of the stock. William Blair Investment Management LLC bought a new stake in Etsy in the second quarter valued at approximately $120,417,000. SG Americas Securities LLC increased its stake in shares of Etsy by 717.7% in the first quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after buying an additional 1,314,071 shares during the period. AQR Capital Management LLC increased its stake in shares of Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after buying an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares during the last quarter. Finally, Findlay Park Partners LLP bought a new stake in Etsy during the 2nd quarter valued at $66,170,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Etsy news, CFO Charles Baker sold 1,564 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total value of $134,316.32. Following the completion of the transaction, the chief financial officer owned 11,357 shares in the company, valued at approximately $975,339.16. This represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the transaction, the director directly owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 584,967 shares of company stock valued at $43,908,631 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Etsy from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Thursday, May 21st. Citigroup lifted their price objective on Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wedbush initiated coverage on Etsy in a research note on Thursday, July 16th. They set a “neutral” rating and a $80.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus target price of $84.68.

Etsy Stock Performance

Etsy stock opened at $84.59 on Wednesday. The stock’s 50 day simple moving average is $80.28 and its two-hundred day simple moving average is $65.74. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 4.21 and a beta of 1.84. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

Etsy (NYSE:ETSY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. On average, analysts predict that Etsy Inc will post 3.94 earnings per share for the current year.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.