Etsy, Inc. $ETSY Shares Sold by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. reduced its stake in Etsy, Inc. by 46.4%, selling 9,429 shares and ending the quarter with 10,894 shares valued at $514,000.
• Multiple institutional investors increased their holdings in Etsy, with Allworth Financial LP raising its position by 47.6% and Brooklyn Investment Group boosting its stake by 842.2% in the same quarter.
• Analysts have raised price targets for Etsy, with Bank of America increasing theirs from $67 to $71, while Needham & Company set a target of $72, reflecting a generally positive outlook despite mixed earnings results.

Landscape Capital Management L.L.C. trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,894 shares of the specialty retailer's stock after selling 9,429 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Etsy were worth $514,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ETSY. Price T Rowe Associates Inc. MD increased its holdings in shares of Etsy by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,437 shares of the specialty retailer's stock valued at $3,779,000 after purchasing an additional 8,804 shares in the last quarter. Northern Trust Corp increased its holdings in Etsy by 22.5% in the 4th quarter. Northern Trust Corp now owns 771,758 shares of the specialty retailer's stock worth $40,818,000 after acquiring an additional 141,853 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Etsy by 17.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 6,239 shares of the specialty retailer's stock worth $330,000 after acquiring an additional 946 shares in the last quarter. Algert Global LLC increased its holdings in Etsy by 76.9% in the 4th quarter. Algert Global LLC now owns 173,804 shares of the specialty retailer's stock worth $9,192,000 after acquiring an additional 75,567 shares in the last quarter. Finally, Bayesian Capital Management LP increased its holdings in Etsy by 68.5% in the 4th quarter. Bayesian Capital Management LP now owns 41,404 shares of the specialty retailer's stock worth $2,190,000 after acquiring an additional 16,832 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Down 2.5%

ETSY traded down $1.31 on Tuesday, hitting $51.70. 4,918,008 shares of the company's stock were exchanged, compared to its average volume of 5,134,184. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $70.57. The firm has a 50-day moving average price of $58.40 and a 200-day moving average price of $52.36. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 41.69, a P/E/G ratio of 3.38 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (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 last year, the firm earned $0.41 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ETSY. UBS Group reissued a "neutral" rating and issued a $67.00 price target on shares of Etsy in a report on Thursday, July 31st. Wells Fargo & Company boosted their price target on shares of Etsy from $41.00 to $57.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Cantor Fitzgerald boosted their price target on shares of Etsy from $52.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Finally, Barclays reissued a "positive" rating and issued a $60.00 price target (up previously from $52.00) on shares of Etsy in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.80.

Insider Activity

In other news, insider Goyal Kruti Patel sold 11,944 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $59.31, for a total transaction of $708,398.64. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director M Michele Burns sold 14,464 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the transaction, the director directly owned 19,964 shares in the company, valued at approximately $1,254,138.48. The trade was a 42.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,316 shares of company stock worth $14,197,579. Insiders own 2.80% of the company's stock.

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.