75,946 Shares in Etsy Inc $ETSY Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new position in shares of Etsy Inc (NYSE:ETSY) in the 2nd quarter, HoldingsChannel reports. The firm acquired 75,946 shares of the company’s stock, valued at approximately $5,721,000.

Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its position 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 valued at $297,991,000 after acquiring an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted 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 acquiring an additional 1,177,301 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Etsy by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock worth $207,022,000 after purchasing an additional 39,067 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised 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 valued at $121,532,000 after purchasing an additional 523,092 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity

In other news, insider Richard Edward Colburn III sold 8,252 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $82.09, for a total transaction of $677,406.68. Following the transaction, the insider 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. The sale was disclosed in a legal filing with the SEC, 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 dated Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the sale, the director owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 434,737 shares of company stock valued at $33,619,606. 2.50% of the stock is currently owned by insiders.

Etsy Stock Performance

NYSE ETSY opened at $81.46 on Tuesday. The stock’s fifty day moving average is $81.01 and its two-hundred day moving average is $66.50. The firm has a market capitalization of $7.73 billion, a P/E ratio of 45.51, a price-to-earnings-growth ratio of 4.04 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 issued 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). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Etsy Inc will post 3.94 EPS for the current year.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research reports. Truist Financial raised their price objective on Etsy from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Citigroup upped their target price on shares of Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Bank of America upgraded shares of Etsy from a “neutral” rating to a “buy” rating and increased their target price for the company from $88.00 to $95.00 in a research report on Thursday, August 20th. Wedbush initiated coverage on shares of Etsy in a research note on Thursday, July 16th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Seaport Research Partners upgraded shares of Etsy to a “buy” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.68.

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.