Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 89.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 889,438 shares of the specialty retailer’s stock after purchasing an additional 419,038 shares during the quarter. AQR Capital Management LLC’s holdings in Etsy were worth $47,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETSY. DJE Kapital AG acquired a new stake in shares of Etsy during the fourth quarter valued at about $983,000. Charles Schwab Investment Management Inc. boosted its position in shares of Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after purchasing an additional 122,126 shares during the period. Principal Financial Group Inc. increased its holdings in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after purchasing an additional 411,165 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Etsy in the fourth quarter valued at approximately $492,000. Finally, Natixis Advisors LLC acquired a new position in Etsy during the fourth quarter worth $606,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,952 shares of company stock valued at $2,554,620. Insiders own 2.60% of the company’s stock.

Etsy Trading Down 2.2 %

ETSY stock opened at $42.51 on Friday. The company’s 50 day moving average is $46.05 and its two-hundred day moving average is $51.15. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.93. The stock has a market cap of $4.47 billion, a P/E ratio of 17.94, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Etsy’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Etsy from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday. Piper Sandler cut their price target on shares of Etsy from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Truist Financial lowered their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Evercore ISI cut their target price on shares of Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Citigroup decreased their price target on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.54.

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.