Moore Capital Management LP Sells 46,895,271 Shares of Etsy Inc $ETSY

Moore Capital Management LP reduced its position in Etsy Inc (NYSE:ETSY) by 100.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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. Smartleaf Asset Management LLC raised its stake in Etsy by 10.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after buying an additional 158 shares during the period. Alamea Verwaltungs GmbH lifted its position in shares of Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after buying an additional 169 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Etsy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Etsy by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ETSY shares. BTIG Research cut Etsy from a “buy” rating to a “neutral” rating in a research note on Thursday, July 16th. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a report on Thursday, August 20th. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Arete Research set a $76.00 target price on shares of Etsy and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Barclays lifted their target price on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.68.

Insider Activity at Etsy

In related news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the transaction, the director directly owned 441,329 shares of the company’s stock, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the insider directly owned 6,503 shares of the company’s stock, valued at $533,831.27. This represents a 55.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 434,737 shares of company stock worth $33,619,606. Corporate insiders own 2.50% of the company’s stock.

Etsy Price Performance

Shares of NYSE ETSY opened at $81.97 on Wednesday. The stock’s fifty day moving average price is $81.15 and its two-hundred day moving average price is $66.74. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 3.93 and a beta of 1.81.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

About Etsy

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.