15,220 Shares in Etsy Inc $ETSY Bought by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new stake in shares of Etsy Inc (NYSE:ETSY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,220 shares of the company’s stock, valued at approximately $1,147,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 11.1% in the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares during the period. AQR Capital Management LLC raised its holdings in shares of Etsy by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after acquiring an additional 1,177,301 shares during the period. Van ECK Associates Corp lifted its position in shares of Etsy by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after acquiring an additional 39,067 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after acquiring an additional 1,112,520 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Etsy by 48.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after purchasing an additional 523,092 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Price Performance

Shares of Etsy stock opened at $82.90 on Friday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 3.95 and a beta of 1.84. The stock has a 50-day simple moving average of $80.64 and a 200-day simple moving average of $66.10. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ETSY shares. Susquehanna downgraded shares of Etsy to a “neutral” rating in a research note on Thursday, May 21st. Citigroup lifted their price target on Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, August 7th. BTIG Research lowered Etsy from a “buy” rating to a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings downgraded Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upgraded Etsy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $100.00 in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.68.

Insider Buying and Selling

In other news, CAO Merilee Buckley sold 405 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $79.50, for a total transaction of $32,197.50. Following the transaction, the chief accounting officer owned 167 shares in the company, valued at approximately $13,276.50. This trade represents a 70.80% decrease in their position. 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, insider Richard Edward Colburn III sold 8,252 shares of Etsy stock in a transaction on Monday, August 10th. The shares were sold at an average price of $82.09, for a total transaction of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at approximately $533,831.27. The trade was a 55.93% 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. Over the last three months, insiders sold 584,967 shares of company stock valued at $43,908,631. 2.50% of the stock is owned by company insiders.

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.