23,632 Shares in Etsy, Inc. $ETSY Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. has acquired 23,632 shares of Etsy, valued at approximately $1,115,000, during the first quarter, highlighting growing institutional interest in the company.
• Several institutional investors have significantly increased their positions in Etsy, with Assenagon Asset Management increasing its stake by 36% and Victory Capital Management by 53.7% in the first quarter.
• Etsy's recent quarterly earnings report revealed an EPS of $0.25, missing analyst estimates, while the company's revenue of $672.66 million surpassed expectations of $645.16 million.

American Century Companies Inc. purchased a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 23,632 shares of the specialty retailer's stock, valued at approximately $1,115,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC acquired a new position in Etsy during the 1st quarter worth about $216,000. Prudential PLC lifted its stake in shares of Etsy by 55.7% during the 1st quarter. Prudential PLC now owns 80,270 shares of the specialty retailer's stock worth $3,787,000 after purchasing an additional 28,728 shares during the period. HighTower Advisors LLC grew its stake in Etsy by 18.5% during the first quarter. HighTower Advisors LLC now owns 4,889 shares of the specialty retailer's stock worth $231,000 after buying an additional 764 shares during the period. Public Sector Pension Investment Board increased its holdings in Etsy by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 356,698 shares of the specialty retailer's stock worth $16,829,000 after purchasing an additional 76,442 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Etsy in the 1st quarter worth about $13,316,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ETSY shares. Sanford C. Bernstein boosted their price objective on shares of Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price objective on Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Cantor Fitzgerald raised their price target on shares of Etsy from $52.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Bank of America raised their price target on Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $57.80.

Insider Buying and Selling

In related news, CAO Merilee Buckley sold 5,817 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $58.83, for a total transaction of $342,214.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 140,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $65.00, for a total value of $9,100,000.00. Following the transaction, the chief executive officer directly owned 62,674 shares of the company's stock, valued at approximately $4,073,810. This trade represents a 69.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,482 shares of company stock worth $15,393,191 over the last ninety days. Insiders own 2.80% of the company's stock.

Etsy Stock Up 7.6%

Shares of ETSY traded up $4.13 on Monday, reaching $58.19. The stock had a trading volume of 6,197,153 shares, compared to its average volume of 4,899,887. The firm has a 50-day moving average of $58.48 and a 200 day moving average of $52.31. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $70.57. The firm has a market capitalization of $5.77 billion, a PE ratio of 46.91, a PEG ratio of 3.44 and a beta of 1.77.

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

Etsy Profile

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.