Engineers Gate Manager LP Has $5.84 Million Position in Etsy Inc $ETSY

Engineers Gate Manager LP raised its position in Etsy Inc (NYSE:ETSY - Free Report) by 56.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,568 shares of the company's stock after purchasing an additional 27,908 shares during the period. Engineers Gate Manager LP owned approximately 0.08% of Etsy worth $5,843,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ETSY. Baird Financial Group Inc. acquired a new stake in Etsy during the 2nd quarter worth approximately $226,000. Allworth Financial LP raised its stake in shares of Etsy by 37.8% in the 2nd quarter. Allworth Financial LP now owns 1,808 shares of the company's stock valued at $136,000 after purchasing an additional 496 shares during the period. Empirical Finance LLC acquired a new position in shares of Etsy during the second quarter worth about $267,000. Nykredit A S acquired a new stake in Etsy in the 2nd quarter valued at approximately $264,000. Finally, Corient Private Wealth LP boosted its position in Etsy by 226.0% during the 2nd quarter. Corient Private Wealth LP now owns 73,639 shares of the company's stock worth $5,547,000 after acquiring an additional 51,050 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on ETSY shares. BTIG Research cut shares of Etsy from a "buy" rating to a "neutral" rating in a research note on Thursday, July 16th. Truist Financial boosted their target price on Etsy from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Loop Capital set a $105.00 price objective on shares of Etsy in a report on Thursday, August 20th. Canaccord Genuity Group set a $92.00 target price on shares of Etsy in a report on Thursday, August 6th. Finally, Roth Capital began coverage on Etsy in a report on Thursday, May 21st. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Etsy has a consensus rating of "Moderate Buy" and an average price target of $85.46.

Etsy Price Performance

NYSE ETSY opened at $72.95 on Friday. The business has a fifty day moving average price of $80.95 and a two-hundred day moving average price of $68.22. The stock has a market capitalization of $6.92 billion, a PE ratio of 40.75, a PEG ratio of 1.79 and a beta of 1.81. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.Etsy's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that Etsy Inc will post 3.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Josh Silverman sold 97,389 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the sale, the insider owned 130,694 shares of the company's stock, valued at $10,324,826. This trade represents a 42.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick Wilson sold 20,000 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total value of $1,487,800.00. Following the sale, the director owned 441,329 shares in the company, valued at $32,830,464.31. This represents a 4.34% 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 sold a total of 471,017 shares of company stock valued at $36,593,674 over the last quarter. 2.50% of the stock is owned by corporate insiders.

About Etsy

Etsy, Inc operates a global online marketplace that connects buyers with independent sellers offering handmade, personalized and vintage goods, as well as craft supplies. Its marketplace includes products such as jewelry, clothing, home décor, art, gifts and party supplies.

The company provides tools and services that support commerce on its platform, including seller storefronts, search and discovery features, payment processing, advertising, shipping solutions and customer support. Etsy primarily serves individual entrepreneurs and small businesses seeking to reach consumers interested in distinctive and creatively designed products.

Founded in 2005 and headquartered in Brooklyn, New York, Etsy serves buyers and sellers in numerous countries.

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