Headlands Technologies LLC Purchases Shares of 13,877 Etsy Inc $ETSY

Key Points

• Headlands Technologies LLC acquired 13,877 Etsy shares worth approximately $1.045 million during the second quarter. Institutional investors collectively own 99.53% of Etsy’s outstanding stock.
• Etsy reported mixed quarterly results, with revenue of $668.31 million exceeding estimates but adjusted EPS of negative $0.49 falling well short of the $0.75 consensus; revenue declined 0.7% year over year.
• Analysts remain divided, with Etsy holding a consensus “Hold” rating and an average price target of $84.68. The stock opened at $81.97, while insiders sold roughly $33.6 million of shares during the latest quarter.

Headlands Technologies LLC acquired a new position in shares of Etsy Inc (NYSE:ETSY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,877 shares of the company's stock, valued at approximately $1,045,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in shares of Etsy by 19.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company's stock worth $282,000 after purchasing an additional 961 shares during the last quarter. Empowered Funds LLC increased its position in shares of Etsy by 55.5% during the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company's stock worth $456,000 after purchasing an additional 3,451 shares in the last quarter. Woodline Partners LP bought a new position in Etsy during the 1st quarter valued at about $2,181,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company's stock valued at $180,000 after purchasing an additional 906 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Etsy in the second quarter valued at about $232,000. 99.53% of the stock is owned by institutional investors.

Etsy Trading Up 0.8%

ETSY opened at $81.97 on Wednesday. The stock has a market capitalization of $7.78 billion, a PE ratio of 45.79, a PEG ratio of 3.93 and a beta of 1.81. Etsy Inc has a 1-year low of $44.00 and a 1-year high of $87.97. The firm has a 50-day moving average price of $81.15 and a two-hundred day moving average price of $66.74.

Etsy (NYSE:ETSY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. Etsy's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts predict that Etsy Inc will post 3.94 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Etsy from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Citigroup lifted their target price on shares of Etsy from $60.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Susquehanna downgraded Etsy to a "neutral" rating in a report on Thursday, May 21st. UBS Group increased their price target on Etsy from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Barclays increased their price target on Etsy from $82.00 to $94.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $84.68.

Insider Buying and Selling

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the transaction, the director owned 441,329 shares of the company's stock, valued at approximately $32,830,464.31. This represents a 4.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 8,252 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the transaction, the insider owned 6,503 shares in the company, valued at $533,831.27. The trade was a 55.93% decrease in their ownership of the stock. 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 434,737 shares of company stock worth $33,619,606 in the last quarter. Insiders own 2.50% of the company's stock.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

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