Teza Capital Management LLC Sells 21,522 Shares of Etsy, Inc. $ETSY

Key Points

• Teza Capital Management LLC has significantly reduced its stake in Etsy, Inc. by 70.2%, now owning only 9,154 shares valued at approximately $432,000.
• Etsy reported a net loss in earnings per share for the last quarter, posting $0.25, which was below analysts' expectations of $0.54, while revenue was above expectations at $672.66 million.
• Several institutional investors have taken differing positions on Etsy, with some increasing their stakes significantly, indicating varied confidence in the company's future performance.

Teza Capital Management LLC reduced its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 70.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,154 shares of the specialty retailer's stock after selling 21,522 shares during the period. Teza Capital Management LLC's holdings in Etsy were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in shares of Etsy by 1,066.3% during the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after acquiring an additional 8,797 shares during the last quarter. Cooper Financial Group boosted its holdings in shares of Etsy by 31.3% in the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock valued at $895,000 after buying an additional 4,523 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Etsy in the 1st quarter worth approximately $288,000. Brooklyn FI LLC purchased a new position in Etsy during the 4th quarter worth approximately $5,229,000. Finally, JBGlobal.com LLC raised its position in Etsy by 68.2% during the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after buying an additional 5,206 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Down 1.1%

Shares of NASDAQ ETSY traded down $0.65 during midday trading on Friday, hitting $58.94. The stock had a trading volume of 4,196,095 shares, compared to its average volume of 5,528,143. The company has a fifty day moving average price of $59.02 and a 200 day moving average price of $52.51. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 47.53, a PEG ratio of 3.80 and a beta of 1.77. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $645.16 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Etsy's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group set a $76.00 price target on shares of Etsy in a research note on Wednesday, July 30th. Arete upgraded shares of Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price objective on the stock in a report on Thursday, August 7th. Sanford C. Bernstein boosted their price target on shares of Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Arete Research upgraded shares of Etsy from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Citizens Jmp raised Etsy to a "hold" rating in a report on Thursday, July 10th. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.80.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was 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. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marla J. Blow sold 450 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $67.46, for a total value of $30,357.00. Following the transaction, the director directly owned 9,491 shares in the company, valued at $640,262.86. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,482 shares of company stock valued at $19,130,691. 2.80% of the stock is currently owned by insiders.

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.