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

Several other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Etsy by 1,066.3% during the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after acquiring an additional 8,797 shares during the period. Cooper Financial Group raised its holdings in Etsy by 31.3% during the first quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock valued at $895,000 after acquiring an additional 4,523 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Etsy during the first quarter valued at about $288,000. Brooklyn FI LLC bought a new stake in Etsy during the fourth quarter valued at about $5,229,000. Finally, JBGlobal.com LLC raised its holdings in Etsy by 68.2% during the first quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock valued at $606,000 after acquiring an additional 5,206 shares during the period. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Price Performance

Shares of NASDAQ:ETSY traded down $1.31 during trading hours on Tuesday, hitting $51.70. 4,918,008 shares of the company's stock traded hands, compared to its average volume of 5,134,184. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57. The business has a fifty day moving average price of $58.43 and a 200-day moving average price of $52.36. The firm has a market capitalization of $5.12 billion, a P/E ratio of 24.20, a price-to-earnings-growth 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 net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter last year, the firm earned $0.41 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ETSY. Citizens Jmp raised Etsy to a "hold" rating in a report on Thursday, July 10th. Guggenheim lifted their target price on Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Raymond James Financial lifted their target price on Etsy from $50.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on Etsy from $41.00 to $57.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Arete raised Etsy from a "sell" rating to a "neutral" rating and set a $54.00 target price on the stock in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $57.80.

Insider Transactions at Etsy

In related news, Director M Michele Burns sold 14,464 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the completion of the sale, the director owned 19,964 shares in the company, valued at approximately $1,254,138.48. The trade was a 42.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Goyal Kruti Patel sold 11,944 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $59.31, for a total value of $708,398.64. Following the completion of the sale, the insider owned 47,529 shares of the company's stock, valued at $2,818,944.99. The trade was a 20.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,316 shares of company stock valued at $14,197,579 in the last ninety days. Corporate 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.