Lecap Asset Management Ltd. Lowers Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Lecap Asset Management Ltd. trimmed its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 41.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,195 shares of the specialty retailer’s stock after selling 7,338 shares during the period. Lecap Asset Management Ltd.’s holdings in Etsy were worth $601,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ETSY. Sunbelt Securities Inc. lifted its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the last quarter. Principal Securities Inc. purchased a new position in Etsy in the 4th quarter worth approximately $47,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Etsy in the 4th quarter worth approximately $49,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Price Performance

ETSY stock traded up $0.28 during mid-day trading on Thursday, reaching $54.92. The company had a trading volume of 369,398 shares, compared to its average volume of 3,579,717. The company has a market capitalization of $6.42 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 5.02 and a beta of 2.02. The firm has a 50 day moving average of $58.53 and a 200 day moving average of $64.50. Etsy, Inc. has a 12 month low of $51.45 and a 12 month high of $89.58.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. Analysts anticipate that Etsy, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the transaction, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at $38,882.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,694 shares of company stock valued at $169,687. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Citigroup decreased their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Needham & Company LLC cut their price objective on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, JMP Securities downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.68.

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.