AQR Capital Management LLC Buys 517,480 Shares of Etsy, Inc. (NASDAQ:ETSY)

AQR Capital Management LLC boosted its stake in Etsy, Inc. (NASDAQ:ETSY) by 76.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,196,932 shares of the specialty retailer’s stock after purchasing an additional 517,480 shares during the period. AQR Capital Management LLC owned approximately 1.02% of Etsy worth $69,685,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ETSY. Yousif Capital Management LLC grew its holdings in shares of Etsy by 1.1% in the first quarter. Yousif Capital Management LLC now owns 16,384 shares of the specialty retailer’s stock worth $1,126,000 after acquiring an additional 172 shares during the period. Accretive Wealth Partners LLC boosted its position in Etsy by 3.8% in 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 during the last quarter. Exchange Capital Management Inc. grew its stake in shares of Etsy by 1.6% during the 1st quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after purchasing an additional 240 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Etsy by 7.0% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock valued at $251,000 after purchasing an additional 240 shares during the last quarter. Finally, Meridian Management Co. lifted its stake in shares of Etsy by 0.4% in the 2nd quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock worth $3,740,000 after purchasing an additional 241 shares during the period. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Trading Up 2.5 %

NASDAQ:ETSY opened at $57.14 on Friday. The business’s 50-day moving average is $55.85 and its 200 day moving average is $61.02. Etsy, Inc. has a 12 month low of $50.63 and a 12 month high of $89.58. The company has a market capitalization of $6.68 billion, a P/E ratio of 26.09, a P/E/G ratio of 5.39 and a beta of 1.97.

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

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ETSY has been the subject of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Etsy in a research report on Monday, September 23rd. Loop Capital reduced their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company lowered their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Wedbush restated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Finally, Evercore ISI raised Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus target price of $70.61.

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.