Engineers Gate Manager LP Purchases 86,313 Shares of Etsy, Inc. $ETSY

Engineers Gate Manager LP boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 28.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,402 shares of the specialty retailer’s stock after purchasing an additional 86,313 shares during the quarter. Engineers Gate Manager LP owned about 0.40% of Etsy worth $19,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Etsy during the 1st quarter valued at $922,000. Charles Schwab Investment Management Inc. grew its position in Etsy by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer’s stock worth $55,901,000 after acquiring an additional 53,831 shares in the last quarter. Jump Financial LLC increased its stake in Etsy by 20.8% in the first quarter. Jump Financial LLC now owns 118,053 shares of the specialty retailer’s stock valued at $5,570,000 after acquiring an additional 20,292 shares during the last quarter. Findlay Park Partners LLP increased its stake in Etsy by 1.4% in the first quarter. Findlay Park Partners LLP now owns 1,236,000 shares of the specialty retailer’s stock valued at $58,314,000 after acquiring an additional 16,600 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Etsy by 90.4% during the second quarter. Chicago Partners Investment Group LLC now owns 9,383 shares of the specialty retailer’s stock valued at $471,000 after purchasing an additional 4,455 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Up 0.5%

NASDAQ:ETSY opened at $53.77 on Friday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 43.37, a P/E/G ratio of 10.65 and a beta of 1.76. The company has a fifty day moving average of $61.73 and a 200 day moving average of $59.97. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. As a group, analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Etsy from $58.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Needham & Company LLC boosted their price objective on shares of Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BNP Paribas Exane initiated coverage on shares of Etsy in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Finally, Canaccord Genuity Group increased their target price on shares of Etsy from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.96.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 11,827 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total transaction of $727,005.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 150,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00. Following the completion of the sale, the chief executive officer directly owned 62,674 shares of the company’s stock, valued at $4,543,865. The trade was a 70.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 311,105 shares of company stock worth $21,144,854 over the last 90 days. 2.80% of the stock is owned by insiders.

Etsy Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.