277,144 Shares in Etsy, Inc. (NASDAQ:ETSY) Bought by Engine Capital Management LP

Engine Capital Management LP purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 277,144 shares of the specialty retailer’s stock, valued at approximately $16,346,000. Etsy comprises 3.1% of Engine Capital Management LP’s holdings, making the stock its 12th largest position. Engine Capital Management LP owned 0.24% of Etsy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Etsy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer’s stock valued at $929,695,000 after purchasing an additional 91,900 shares during the last quarter. Capital International Investors increased its holdings in shares of Etsy by 0.6% in the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock valued at $662,605,000 after acquiring an additional 45,305 shares during the period. Van ECK Associates Corp raised its position 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 purchasing an additional 721,454 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after purchasing an additional 734,200 shares during the period. Finally, Bares Capital Management Inc. grew its position in Etsy by 0.9% during the 4th quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after purchasing an additional 36,623 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of ETSY stock opened at $54.83 on Tuesday. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 5.10 and a beta of 1.97. The company has a 50 day moving average price of $56.54 and a 200 day moving average price of $61.33. Etsy, Inc. has a one year low of $50.63 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 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 analyst estimates of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. During the same quarter in the prior year, the company earned $0.83 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ETSY. Wolfe Research assumed coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research report on Monday, July 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Etsy in a report on Monday. Truist Financial decreased their price target on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.61.

Insider Buying and Selling at Etsy

In other 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 value of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Etsy Company 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.