Headlands Technologies LLC Increases Stake in Etsy, Inc. (NASDAQ:ETSY)

Headlands Technologies LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 371.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,057 shares of the specialty retailer’s stock after buying an additional 3,196 shares during the period. Headlands Technologies LLC’s holdings in Etsy were worth $239,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. raised its position in Etsy by 3.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after acquiring an additional 161 shares in the last quarter. Truist Financial Corp raised its position in Etsy by 2.7% during the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 168 shares in the last quarter. Yousif Capital Management LLC raised 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 valued at $1,126,000 after acquiring an additional 172 shares in the last quarter. D.A. Davidson & CO. raised 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 valued at $1,587,000 after acquiring an additional 184 shares in the last quarter. Finally, Accretive Wealth Partners LLC raised 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 valued at $505,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 2,000 shares of company stock valued at $116,395. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Truist Financial cut their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Piper Sandler restated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $70.61.

Etsy Stock Performance

NASDAQ ETSY opened at $55.65 on Friday. The stock’s fifty day moving average is $57.04 and its two-hundred day moving average is $62.10. The firm has a market capitalization of $6.39 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97. Etsy, Inc. has a fifty-two week low of $50.63 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.38 EPS for the current year.

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.