Etsy, Inc. $ETSY Shares Acquired by Findlay Park Partners LLP

Key Points

• Findlay Park Partners LLP increased its stake in Etsy by 1.4%, owning approximately 1.19% of the company, which is valued at $58.31 million after acquiring an additional 16,600 shares.
• Etsy reported a quarterly earnings miss with an EPS of $0.25, falling short of the $0.54 estimate, although revenue increased by 3.8% compared to the previous year.
• Following recent stock sales by insiders, insiders now hold only 2.80% of the company's stock, following the sale of 364,618 shares valued at nearly $22 million last quarter.

Findlay Park Partners LLP lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,236,000 shares of the specialty retailer's stock after purchasing an additional 16,600 shares during the period. Findlay Park Partners LLP owned approximately 1.19% of Etsy worth $58,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jump Financial LLC raised its position in Etsy by 20.8% during the first quarter. Jump Financial LLC now owns 118,053 shares of the specialty retailer's stock valued at $5,570,000 after buying an additional 20,292 shares during the period. SVB Wealth LLC acquired a new position in Etsy during the first quarter valued at $36,000. AlphaQuest LLC acquired a new position in Etsy during the first quarter valued at $418,000. Kaufman Rossin Wealth LLC acquired a new position in Etsy during the first quarter valued at $446,000. Finally, Level Four Advisory Services LLC raised its position in Etsy by 93.6% during the first quarter. Level Four Advisory Services LLC now owns 46,919 shares of the specialty retailer's stock valued at $2,214,000 after buying an additional 22,678 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Goyal Kruti Patel sold 11,944 shares of Etsy 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 sale, the insider owned 47,529 shares of the company's stock, valued at approximately $2,818,944.99. The trade was a 20.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $58.79, for a total value of $88,185.00. Following the transaction, the insider owned 33,183 shares of the company's stock, valued at $1,950,828.57. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 364,618 shares of company stock valued at $21,975,392 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Etsy Stock Down 8.4%

NASDAQ:ETSY opened at $57.39 on Tuesday. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57. The firm has a market capitalization of $5.69 billion, a P/E ratio of 46.28, a P/E/G ratio of 3.99 and a beta of 1.73. The stock's fifty day simple moving average is $58.53 and its 200-day simple moving average is $52.38.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ETSY shares. Wells Fargo & Company boosted their target price on Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus boosted their target price on Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein boosted their target price on Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Finally, UBS Group reiterated a "neutral" rating and set a $67.00 price target on shares of Etsy in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Etsy has an average rating of "Hold" and a consensus target price of $57.80.

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.

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