MBB Public Markets I LLC Takes $505,000 Position in Etsy, Inc. (NASDAQ:ETSY)

MBB Public Markets I LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, Holdings Channel reports. The fund acquired 8,562 shares of the specialty retailer’s stock, valued at approximately $505,000.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of Etsy by 304.2% during the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after purchasing an additional 1,055,296 shares during the last quarter. Renaissance Technologies LLC lifted its position in Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares during the period. Van ECK Associates Corp grew its holdings in Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after buying an additional 721,454 shares during the period. Pacer Advisors Inc. increased its stake in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after acquiring an additional 721,453 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Etsy by 84.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock worth $106,136,000 after acquiring an additional 599,286 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 document filed with the SEC, which is available at this link. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 in the last three months. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ETSY shares. Stifel Nicolaus reduced their target price on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 target price on shares of Etsy in a research report on Friday, August 23rd. Wolfe Research started coverage on shares of Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Wedbush reiterated a “neutral” rating and issued a $65.00 target price on shares of Etsy in a research report on Monday, July 22nd. Finally, Loop Capital lowered their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.61.

Etsy Trading Down 5.8 %

Shares of ETSY stock opened at $52.30 on Wednesday. The stock’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $60.80. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 1-year low of $50.63 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its 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). The business had revenue of $647.80 million during the quarter, compared to analyst estimates 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 company earned $0.83 EPS. On average, sell-side analysts predict 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.