Long Focus Capital Management LLC Has $13.69 Million Holdings in Etsy, Inc. $ETSY

Key Points

• Long Focus Capital Management LLC increased its holdings in Etsy, Inc., acquiring an additional 10,000 shares to reach a total of 290,100 shares, valued at approximately $13.7 million.
• A variety of analysts have raised their price targets for Etsy, with Guggenheim setting a new target of $70.00 and Wells Fargo adjusting theirs to $57.00.
• Etsy reported earnings per share of $0.25 for the last quarter, which fell short of estimates, but revenue increased by 3.8% year-over-year to $672.66 million.

Long Focus Capital Management LLC lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,100 shares of the specialty retailer's stock after acquiring an additional 10,000 shares during the quarter. Long Focus Capital Management LLC owned approximately 0.28% of Etsy worth $13,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in shares of Etsy by 36.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after purchasing an additional 535,864 shares in the last quarter. Victory Capital Management Inc. increased its stake in Etsy by 53.7% in the first quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer's stock valued at $58,923,000 after purchasing an additional 436,231 shares in the last quarter. AQR Capital Management LLC increased its stake in Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock valued at $47,042,000 after purchasing an additional 419,038 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Etsy by 140.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,454 shares of the specialty retailer's stock worth $33,566,000 after buying an additional 415,942 shares during the period. Finally, Bank of Nova Scotia acquired a new stake in Etsy during the 1st quarter worth approximately $19,454,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Etsy

In related news, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, valued at $361,786.32. This trade represents a 29.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the sale, the insider directly owned 31,683 shares of the company's stock, valued at $1,635,476.46. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 251,482 shares of company stock worth $15,393,191 over the last quarter. Insiders own 2.80% of the company's stock.

Etsy Stock Performance

Shares of NASDAQ ETSY traded up $0.12 during trading hours on Thursday, hitting $52.09. 2,747,529 shares of the stock were exchanged, compared to its average volume of 4,877,067. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57. The company has a market cap of $5.16 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 3.38 and a beta of 1.77. The company's fifty day simple moving average is $58.38 and its two-hundred day simple moving average is $52.35.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results 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 quarter in the prior year, the business earned $0.41 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ETSY shares. Arete raised Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price target for the company in a research report on Thursday, August 7th. Sanford C. Bernstein upped their price target on Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Canaccord Genuity Group set a $76.00 price target on Etsy in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.80.

Etsy Company 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.