Jacobs Levy Equity Management Inc. Raises Position in Etsy, Inc. $ETSY

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Etsy by 143% during Q1, now owning approximately 0.12% of the company, valued at nearly $5.8 million.
• Several hedge funds, including AQR Capital Management, made significant investments in Etsy during the same quarter, indicating strong institutional interest in the company.
• Etsy reported earnings of $0.25 per share for its last quarter, missing expectations, but revenue increased by 3.8% year-over-year to $672.66 million.

Jacobs Levy Equity Management Inc. grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 143.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,740 shares of the specialty retailer's stock after purchasing an additional 72,226 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.12% of Etsy worth $5,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in shares of Etsy during the 1st quarter valued at $116,000. AQR Capital Management LLC lifted its holdings in shares of Etsy by 423.7% during the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock valued at $218,890,000 after purchasing an additional 3,768,787 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Etsy during the 1st quarter valued at $277,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Etsy during the 1st quarter valued at $922,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Etsy during the 1st quarter valued at $1,038,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Activity at Etsy

In other Etsy news, Director Charles Andrew Ballard sold 2,400 shares of the 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 sale, the director directly owned 5,796 shares of the company's stock, valued at approximately $361,786.32. This trade represents a 29.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the 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 directly owned 31,683 shares in the company, 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 251,482 shares of company stock worth $15,393,191 in the last three months. Company insiders own 2.80% of the company's stock.

Etsy Stock Performance

Shares of ETSY opened at $58.20 on Tuesday. The business's 50-day moving average is $58.64 and its two-hundred day moving average is $52.36. The company has a market capitalization of $5.77 billion, a P/E ratio of 46.94, a P/E/G ratio of 3.44 and a beta of 1.77. 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 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The company 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%.Etsy's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

ETSY has been the topic of several research reports. Needham & Company LLC upped their target price on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Sanford C. Bernstein raised their target price on Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. UBS Group restated a "neutral" rating and issued a $67.00 target price on shares of Etsy in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on Etsy from $50.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley raised their target price on Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Etsy has a consensus rating of "Hold" and an average 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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