Moore Capital Management LP Has $356,000 Stock Position in Etsy Inc $ETSY

Moore Capital Management LP lowered its stake in Etsy Inc (NYSE:ETSY) by 100.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,729 shares of the company’s stock after selling 46,895,271 shares during the period. Moore Capital Management LP’s holdings in Etsy were worth $356,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETSY. William Blair Investment Management LLC bought a new stake in Etsy during the second quarter worth about $120,417,000. SG Americas Securities LLC grew its stake in Etsy by 717.7% during 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 in the last quarter. AQR Capital Management LLC increased its holdings in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after buying an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in 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 buying an additional 1,112,520 shares during the period. Finally, Findlay Park Partners LLP bought a new position in Etsy in the 2nd quarter valued at about $66,170,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 0.8%

ETSY stock opened at $81.97 on Wednesday. The firm has a 50-day moving average price of $81.15 and a 200-day moving average price of $66.74. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The stock has a market capitalization of $7.78 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 3.93 and a beta of 1.81.

Etsy (NYSE:ETSY) last announced its quarterly 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 company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, equities analysts predict that Etsy Inc will post 3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

ETSY has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Evercore set a $83.00 price objective on shares of Etsy in a research note on Thursday, August 6th. The Goldman Sachs Group initiated coverage on shares of Etsy in a research report on Monday, August 17th. They set a “neutral” rating and a $89.00 price objective for the company. Roth Capital assumed coverage on Etsy in a research note on Thursday, May 21st. They set a “buy” rating for the company. Finally, Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.68.

Insider Transactions at Etsy

In other Etsy news, CFO Charles Baker sold 1,564 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $85.88, for a total transaction of $134,316.32. Following the sale, the chief financial officer owned 11,357 shares of the company’s stock, valued at approximately $975,339.16. The trade was a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Andrew Ballard sold 4,500 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total transaction of $368,325.00. Following the sale, the director directly owned 4,239 shares in the company, valued at approximately $346,962.15. The trade was a 51.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 434,737 shares of company stock valued at $33,619,606. Corporate insiders own 2.50% 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.