Etsy, Inc. $ETSY Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Etsy, Inc. by 423.7%, owning 4.47% of the company with a position worth $218.89 million after acquiring additional shares in the first quarter.
• In recent months, institutional investors have significantly altered their holdings in Etsy, with various firms increasing their stakes substantially, resulting in nearly 99.53% of the stock being held by these investors.
• Etsy's latest quarterly earnings report revealed a miss on EPS estimates, reporting $0.25 earnings per share against a consensus estimate of $0.54 while showing a 3.8% year-over-year revenue increase.

AQR Capital Management LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 423.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,658,225 shares of the specialty retailer's stock after purchasing an additional 3,768,787 shares during the quarter. AQR Capital Management LLC owned 4.47% of Etsy worth $218,890,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Allworth Financial LP raised its holdings in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Etsy by 39.4% in the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock worth $91,000 after acquiring an additional 545 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of 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 during the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Etsy in the first quarter worth $36,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Trading Up 3.5%

NASDAQ:ETSY traded up $1.85 on Friday, hitting $54.06. 5,063,057 shares of the stock were exchanged, compared to its average volume of 5,124,742. The stock has a market cap of $5.36 billion, a PE ratio of 43.60, a PEG ratio of 3.33 and a beta of 1.77. The stock has a fifty day moving average of $58.48 and a 200-day moving average of $52.30. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly 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 for 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%.The business's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In other Etsy news, Director Charles Andrew Ballard sold 2,400 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.42, for a total transaction of $149,808.00. Following the completion of the sale, the director directly owned 5,796 shares in the company, valued at $361,786.32. This represents a 29.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $51.62, for a total value of $77,430.00. Following the sale, the insider owned 31,683 shares of the company's stock, valued at $1,635,476.46. This represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,482 shares of company stock valued at $15,393,191 over the last three months. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price target on Etsy from $52.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Etsy from $50.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. UBS Group reissued a "neutral" rating and issued a $67.00 price target on shares of Etsy in a report on Thursday, July 31st. Barclays reissued a "positive" rating and issued a $60.00 price target (up from $52.00) on shares of Etsy in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price target on Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Etsy has an average rating of "Hold" and a consensus target price 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.