Engineers Gate Manager LP Raises Position in Etsy Inc $ETSY

Engineers Gate Manager LP boosted its position in Etsy Inc (NYSE:ETSY) by 56.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 77,568 shares of the company’s stock after purchasing an additional 27,908 shares during the period. Engineers Gate Manager LP’s holdings in Etsy were worth $5,843,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ETSY. California State Teachers Retirement System boosted its holdings in Etsy by 7,217.3% in the 2nd quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock worth $569,634,000 after buying an additional 7,458,509 shares during the period. Renaissance Technologies LLC lifted its position in shares of Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after acquiring an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted its holdings 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 acquiring an additional 1,177,301 shares during the period. Van ECK Associates Corp grew its position in shares of Etsy by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 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 purchasing an additional 1,112,520 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Charles Ballard sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total transaction of $368,325.00. Following the completion of the transaction, the director owned 4,239 shares in the company, valued at $346,962.15. This trade represents a 51.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick R. Wilson sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $81.86, for a total value of $1,637,200.00. Following the completion of the sale, the director owned 401,329 shares in the company, valued at $32,852,791.94. This represents a 4.75% decrease in their ownership of the stock. 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 a total of 471,017 shares of company stock worth $36,593,674 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Etsy Stock Performance

Shares of NYSE:ETSY opened at $72.95 on Friday. The business has a 50-day simple moving average of $80.95 and a two-hundred day simple moving average of $68.22. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.81. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

Etsy (NYSE:ETSY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, research analysts predict that Etsy Inc will post 3.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. UBS Group boosted their target price on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Evercore set a $83.00 price objective on Etsy in a research note on Thursday, August 6th. Susquehanna lowered shares of Etsy to a “neutral” rating in a report on Thursday, May 21st. Finally, Seaport Research Partners upgraded Etsy to a “buy” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.46.

Etsy Profile

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.