Vident Advisory LLC Increases Holdings in Etsy, Inc. $ETSY

Vident Advisory LLC boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,950 shares of the specialty retailer’s stock after buying an additional 2,293 shares during the quarter. Vident Advisory LLC’s holdings in Etsy were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Etsy by 36.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer’s stock worth $95,599,000 after acquiring an additional 535,864 shares during the last quarter. Victory Capital Management Inc. raised its position in Etsy by 53.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer’s stock worth $58,923,000 after purchasing an additional 436,231 shares during the period. Findlay Park Partners LLP lifted its stake in Etsy by 1.4% in the first quarter. Findlay Park Partners LLP now owns 1,236,000 shares of the specialty retailer’s stock worth $58,314,000 after purchasing an additional 16,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Etsy by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer’s stock valued at $55,901,000 after buying an additional 53,831 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Etsy by 22.5% during the fourth quarter. Northern Trust Corp now owns 771,758 shares of the specialty retailer’s stock valued at $40,818,000 after buying an additional 141,853 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Price Performance

NASDAQ:ETSY opened at $51.97 on Thursday. Etsy, Inc. has a one year low of $40.05 and a one year high of $70.57. The company’s 50-day simple moving average is $58.38 and its 200 day simple moving average is $52.35. The firm has a market capitalization of $5.15 billion, a P/E ratio of 41.91, a PEG ratio of 3.38 and a beta of 1.77.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $645.16 million. During the same period in the prior year, the business posted $0.41 EPS. Etsy’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Cantor Fitzgerald lifted their price target on Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Canaccord Genuity Group set a $76.00 price objective on Etsy in a research note on Wednesday, July 30th. Barclays restated a “positive” rating and issued a $60.00 target price (up previously from $52.00) on shares of Etsy in a report on Thursday, July 31st. Finally, Guggenheim upped their price target on shares of Etsy from $50.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $57.80.

Insider Buying and Selling at Etsy

In other news, insider Goyal Kruti Patel sold 11,944 shares of Etsy stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Melissa Reiff sold 6,909 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $58.89, for a total transaction of $406,871.01. Following the completion of the transaction, the director owned 16,424 shares in the company, valued at approximately $967,209.36. The trade was a 29.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 251,482 shares of company stock valued at $15,393,191 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

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.