Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 21.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,215,370 shares of the specialty retailer’s stock after purchasing an additional 734,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Etsy were worth $248,623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Etsy by 3.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after acquiring an additional 161 shares during the period. Yousif Capital Management LLC boosted its position in Etsy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock worth $1,126,000 after purchasing an additional 172 shares in the last quarter. D.A. Davidson & CO. boosted its position in Etsy by 0.9% during the fourth quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock worth $1,587,000 after purchasing an additional 184 shares in the last quarter. Accretive Wealth Partners LLC boosted its position in Etsy by 3.8% during the fourth quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after purchasing an additional 226 shares in the last quarter. Finally, Exchange Capital Management Inc. grew its stake in Etsy by 1.6% in the 1st quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after acquiring an additional 240 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Up 7.6 %

Shares of ETSY stock opened at $55.65 on Monday. Etsy, Inc. has a fifty-two week low of $50.63 and a fifty-two week high of $89.58. The firm’s 50 day moving average price is $57.04 and its two-hundred day moving average price is $61.97. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same period last year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETSY. Wedbush reiterated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Cantor Fitzgerald began coverage on Etsy in a report on Thursday, September 5th. They issued a “neutral” rating and a $50.00 price target for the company. Loop Capital decreased their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $70.61.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders sold 2,000 shares of company stock worth $116,395. 2.60% of the stock is currently owned by corporate insiders.

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.