Jacobs Levy Equity Management Inc. Has $13.40 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Jacobs Levy Equity Management Inc. boosted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 36.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,047 shares of the specialty retailer’s stock after purchasing an additional 52,036 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.17% of Etsy worth $13,404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ETSY. Sunbelt Securities Inc. boosted its holdings in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the period. Larson Financial Group LLC raised its stake in Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares during the period. Principal Securities Inc. bought a new stake in Etsy in the 4th quarter valued at about $47,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Etsy in the 4th quarter valued at about $49,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 0.9 %

ETSY traded up $0.56 during trading on Wednesday, reaching $65.08. The stock had a trading volume of 1,006,451 shares, compared to its average volume of 3,555,540. The stock’s 50 day moving average is $61.10 and its two-hundred day moving average is $66.11. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 5.22 and a beta of 2.02. Etsy, Inc. has a one year low of $55.08 and a one year high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. On average, equities research analysts predict that Etsy, Inc. will post 2.48 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ETSY shares. Needham & Company LLC lowered their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Citigroup reduced their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Truist Financial lifted their target price on Etsy from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, July 26th. JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and an average price target of $78.75.

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.