15,220 Shares in Etsy Inc $ETSY Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management purchased 15,220 Etsy shares during the second quarter, worth approximately $1.15 million. Institutional investors collectively own 99.53% of Etsy’s outstanding stock.
• Etsy reported quarterly revenue of $668.31 million, exceeding estimates, but earnings per share of negative $0.49 missed expectations by $1.24; revenue declined 0.7% year over year.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $84.68, while Etsy insiders sold approximately $43.9 million of stock last quarter under pre-arranged trading plans.

Redwood Investment Management LLC bought a new position in Etsy Inc (NYSE:ETSY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,220 shares of the company's stock, valued at approximately $1,147,000.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of Etsy during the second quarter worth about $34,000. EFG International AG acquired a new position in Etsy during the 2nd quarter valued at about $45,000. Danske Bank A S acquired a new position in Etsy during the 3rd quarter valued at about $66,000. CoreCap Advisors LLC grew its position in Etsy by 2,379.1% in the 2nd quarter. CoreCap Advisors LLC now owns 1,066 shares of the company's stock worth $80,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock valued at $67,000 after purchasing an additional 225 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of ETSY stock opened at $82.90 on Friday. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The stock has a market cap of $7.87 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 3.95 and a beta of 1.84. The business's fifty day moving average is $80.64 and its 200-day moving average is $66.10.

Etsy (NYSE:ETSY - Get Free Report) last announced 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). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. During the same quarter last year, the company earned $0.25 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Etsy Inc will post 3.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ETSY. Rosenblatt Securities started coverage on Etsy in a research report on Thursday, August 20th. They set a "buy" rating and a $95.00 price objective for the company. Jefferies Financial Group raised their target price on Etsy from $62.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Etsy from $61.00 to $76.00 and gave the company an "underweight" rating in a research note on Friday, August 7th. Argus upgraded Etsy from a "hold" rating to a "buy" rating and set a $67.00 price target for the company in a research report on Thursday, May 21st. Finally, Royal Bank Of Canada cut Etsy to a "sector perform" rating in a research note on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $84.68.

Insider Transactions at Etsy

In other Etsy news, insider Josh Silverman sold 6,294 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $84.00, for a total value of $528,696.00. Following the completion of the sale, the insider directly owned 249,559 shares of the company's stock, valued at approximately $20,962,956. This represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 firm'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 transaction, the insider owned 6,503 shares of the company's stock, valued at approximately $533,831.27. This trade represents a 55.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 584,967 shares of company stock valued at $43,908,631 in the last quarter. 2.50% of the stock is owned by company insiders.

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.

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