Etsy, Inc. $ETSY Shares Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP has increased its stake in Etsy, Inc. by 35.7%, owning 404,636 shares valued at approximately $19.1 million as of the latest SEC filing.
• Multiple hedge funds also boosted their positions in Etsy, with Assenagon Asset Management and Victory Capital Management reporting increases of 36.0% and 53.7%, respectively.
• Wall Street analysts have a generally positive outlook on Etsy, with eight analysts rating it as a Buy and several raising their price targets, like Raymond James increasing it from $50.00 to $70.00.

Trexquant Investment LP boosted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 35.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 404,636 shares of the specialty retailer's stock after buying an additional 106,366 shares during the period. Trexquant Investment LP owned 0.39% of Etsy worth $19,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares during the last quarter. SVB Wealth LLC acquired a new stake in Etsy in the 1st quarter worth about $36,000. Allworth Financial LP boosted its stake in Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after buying an additional 248 shares during the last quarter. Brooklyn Investment Group boosted its stake in Etsy by 842.2% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock worth $37,000 after buying an additional 699 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Etsy in the 1st quarter worth about $70,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other news, Director M Michele Burns sold 14,464 shares of Etsy 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 transaction, the director owned 19,964 shares in the company, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the transaction, the chief executive officer owned 107,809 shares of the company's stock, valued at approximately $6,218,423.12. The trade was a 58.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 381,482 shares of company stock worth $23,033,829 over the last 90 days. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial raised their price target on Etsy from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Sanford C. Bernstein raised their price objective on Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Arete upgraded 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. Canaccord Genuity Group set a $76.00 price objective on Etsy in a report on Wednesday, July 30th. Finally, Needham & Company LLC raised their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.80.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $0.86 during mid-day trading on Friday, hitting $53.01. 4,381,901 shares of the company traded hands, compared to its average volume of 5,350,793. The firm has a market cap of $5.25 billion, a P/E ratio of 42.75, a PEG ratio of 3.38 and a beta of 1.73. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $70.57. The firm's 50 day simple moving average is $58.45 and its 200 day simple moving average is $52.41.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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 net margin of 5.78% and a negative return on equity of 31.10%. The company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.