Gilder Gagnon Howe & Co. LLC Reduces Position in Etsy, Inc. (NASDAQ:ETSY)
Gilder Gagnon Howe & Co. LLC cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 15,918 shares of the specialty retailer’s stock after selling 524 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Etsy were worth $239,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in ETSY. FNY Managed Accounts LLC bought a new stake in shares of Etsy during the first quarter worth about $105,000. UBS Group AG increased its stake in shares of Etsy by 30.7% in the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,373 shares in the last quarter. Creative Planning increased its stake in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock worth $128,000 after buying an additional 5,258 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in shares of Etsy during the first quarter worth about $174,000. Finally, Silver Capital Management LLC bought a new stake in shares of Etsy during the second quarter worth about $346,000. Institutional investors own 69.59% of the company’s stock.
Shares of Etsy, Inc. (NASDAQ:ETSY) opened at 15.90 on Friday. Etsy, Inc. has a 12-month low of $9.41 and a 12-month high of $16.05. The stock has a 50 day moving average of $14.87 and a 200-day moving average of $12.58. The company’s market capitalization is $1.76 billion.
Etsy (NASDAQ:ETSY) last issued its earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. The business had revenue of $101.70 million during the quarter, compared to analysts’ expectations of $101.14 million. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. Equities research analysts forecast that Etsy, Inc. will post $0.28 EPS for the current year.
A number of analysts have issued reports on the stock. Roth Capital set a $14.00 price target on shares of Etsy and gave the company a “hold” rating in a report on Monday, July 31st. BidaskClub downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada boosted their target price on shares of Etsy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Stifel Nicolaus boosted their target price on shares of Etsy from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Loop Capital restated a “buy” rating and issued a $13.00 target price (down from $16.00) on shares of Etsy in a report on Wednesday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.33.
In other Etsy news, CEO Josh Silverman bought 64,000 shares of Etsy stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $15.67 per share, for a total transaction of $1,002,880.00. Following the completion of the transaction, the chief executive officer now directly owns 64,000 shares of the company’s stock, valued at $1,002,880. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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