Holocene Advisors LP Sells 2,238,257 Shares of Etsy Inc $ETSY

Holocene Advisors LP trimmed its position in shares of Etsy Inc (NYSE:ETSY) by 41.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,105,540 shares of the company’s stock after selling 2,238,257 shares during the quarter. Holocene Advisors LP owned 3.15% of Etsy worth $206,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of Etsy by 19.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after purchasing an additional 961 shares during the period. Empowered Funds LLC raised its position in Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock worth $456,000 after purchasing an additional 3,451 shares during the period. Woodline Partners LP purchased a new stake in Etsy in the 1st quarter worth about $2,181,000. Allworth Financial LP lifted its stake in Etsy by 528.9% in the second quarter. Allworth Financial LP now owns 4,836 shares of the company’s stock worth $243,000 after purchasing an additional 4,067 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Etsy by 26.3% during the second quarter. PNC Financial Services Group Inc. now owns 6,886 shares of the company’s stock valued at $345,000 after buying an additional 1,436 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ETSY shares. Jefferies Financial Group cut their target price on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. B. Riley Financial dropped their price objective on Etsy from $78.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 20th. Needham & Company LLC cut their price objective on Etsy from $76.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Morgan Stanley reduced their target price on Etsy from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, February 20th. Finally, Canaccord Genuity Group decreased their target price on Etsy from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.80.

Etsy Stock Performance

NYSE:ETSY opened at $52.00 on Monday. The firm has a 50-day simple moving average of $55.38. Etsy Inc has a one year low of $40.05 and a one year high of $76.51. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 3.31 and a beta of 1.74.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The firm had revenue of $881.64 million for the quarter. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%.

Etsy declared that its Board of Directors has approved a share buyback program on Thursday, December 18th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to purchase up to 14.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider directly owned 90,661 shares of the company’s stock, valued at approximately $4,828,604.86. The trade was a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 5,636 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $58.45, for a total value of $329,424.20. The SEC filing for this sale provides additional information. Insiders sold a total of 116,058 shares of company stock worth $6,576,362 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Etsy 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.