75,946 Shares in Etsy Inc $ETSY Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 75,946 Etsy shares worth approximately $5.7 million, while institutional investors and hedge funds collectively own 99.53% of the company.
• Analysts maintain a consensus “Hold” rating on Etsy, with an average price target of $84.68; recent targets range from $83 to $92.
• Etsy reported quarterly revenue of $668.3 million, beating estimates but declining 0.7% year over year, while adjusted earnings missed expectations. The stock opened at $81.46 after falling 2.5%.

Corient Private Wealth LP bought a new position in shares of Etsy Inc (NYSE:ETSY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 75,946 shares of the company's stock, valued at approximately $5,721,000. Corient Private Wealth LP owned about 0.08% of Etsy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company's stock valued at $297,991,000 after buying an additional 594,768 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Etsy by 40.1% in the 4th 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 stake 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 worth $207,022,000 after buying an additional 39,067 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company's stock worth $163,841,000 after buying an additional 1,112,520 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company's stock worth $121,532,000 after buying an additional 523,092 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETSY has been the subject of several recent research reports. Evercore set a $83.00 price target on Etsy in a research report on Thursday, August 6th. Susquehanna cut shares of Etsy to a "neutral" rating in a research note on Thursday, May 21st. Roth Capital assumed coverage on shares of Etsy in a research note on Thursday, May 21st. They set a "buy" rating on the stock. Canaccord Genuity Group set a $92.00 target price on shares of Etsy in a report on Thursday, August 6th. Finally, UBS Group boosted their target price on shares of Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Two research 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $84.68.

Etsy Trading Down 2.5%

Shares of ETSY stock opened at $81.46 on Tuesday. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97. The business's 50 day moving average is $81.01 and its two-hundred day moving average is $66.50. The company has a market capitalization of $7.73 billion, a P/E ratio of 45.51, a P/E/G ratio of 4.04 and a beta of 1.84.

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

Insider Transactions at Etsy

In related news, insider Richard Edward Colburn III sold 8,252 shares of Etsy stock in a transaction on Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 6,294 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $84.00, for a total transaction 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. The trade was a 2.46% 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. Insiders have sold 434,737 shares of company stock worth $33,619,606 in the last ninety days. Company 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.

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