Rice Hall James & Associates LLC Invests $12.46 Million in Etsy Inc $ETSY

Rice Hall James & Associates LLC acquired a new stake in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 165,432 shares of the company’s stock, valued at approximately $12,462,000.

A number of other large investors have also bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares during the period. AQR Capital Management LLC boosted its holdings 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 valued at $227,785,000 after buying an additional 1,177,301 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Etsy by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after buying an additional 39,067 shares during the period. 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 acquiring an additional 1,112,520 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 48.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after acquiring an additional 523,092 shares during the period. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of research analyst reports. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. BTIG Research cut Etsy from a “buy” rating to a “neutral” rating in a research report on Thursday, July 16th. Arete Research set a $76.00 target price on Etsy and gave the company a “buy” rating in a research report on Wednesday, May 20th. Jefferies Financial Group boosted their target price on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $82.73.

Etsy Price Performance

Shares of NYSE ETSY opened at $78.17 on Tuesday. The business has a 50-day moving average of $78.84 and a 200-day moving average of $64.54. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 5.47 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 released 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 negative return on equity of 34.18% and a net margin of 7.32%.The company had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. During the same quarter in the previous year, the company posted $0.25 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts expect that Etsy Inc will post 3.94 EPS for the current year.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the sale, the insider owned 130,694 shares in the company, valued at $9,003,509.66. This represents a 50.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the sale, the director directly owned 421,329 shares of the company’s stock, valued at approximately $35,062,999.38. The trade was a 4.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 604,262 shares of company stock worth $45,085,166 in the last ninety days. Insiders own 2.50% of the company’s stock.

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.