AlphaQuest LLC Takes $418,000 Position in Etsy, Inc. $ETSY

Key Points

• AlphaQuest LLC recently acquired a new stake in Etsy, Inc., purchasing 8,853 shares valued at approximately $418,000.
• In the fourth quarter, several institutional investors, including Dimensional Fund Advisors and Tower Research Capital, significantly increased their stakes in Etsy.
• Etsy's stock decreased by 2.0% and reported earnings of $0.25 per share, missing expectations, while revenue for the quarter was $672.66 million, surpassing estimates.

AlphaQuest LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,853 shares of the specialty retailer's stock, valued at approximately $418,000.

Several other large investors have also modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 248 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Etsy by 39.4% during the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock worth $91,000 after purchasing an additional 545 shares during the last quarter. Brooklyn Investment Group raised its position in Etsy by 842.2% in the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 699 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Etsy by 18.5% in the first quarter. HighTower Advisors LLC now owns 4,889 shares of the specialty retailer's stock worth $231,000 after acquiring an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Stock Performance

Etsy stock traded down $0.86 during midday trading on Friday, reaching $53.01. 4,381,901 shares of the company were exchanged, compared to its average volume of 5,350,793. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 42.75, a P/E/G ratio of 3.38 and a beta of 1.73. The firm's 50-day simple moving average is $58.45 and its 200-day simple moving average is $52.41. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 5,817 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.83, for a total value of $342,214.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 11,944 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the completion of the sale, the insider directly owned 47,529 shares in the company, valued at approximately $2,818,944.99. The trade was a 20.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 381,482 shares of company stock worth $23,033,829 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ETSY shares. Needham & Company LLC increased their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Citizens Jmp upgraded Etsy to a "hold" rating in a research report on Thursday, July 10th. UBS Group restated a "neutral" rating and issued a $67.00 price target on shares of Etsy in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price target on Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Etsy has an average rating of "Hold" and an average price target of $57.80.

About Etsy

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.