V Square Quantitative Management LLC Acquires 2,134 Shares of Etsy, Inc. (NASDAQ:ETSY)

V Square Quantitative Management LLC lifted its position in Etsy, Inc. (NASDAQ:ETSY) by 74.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,006 shares of the specialty retailer’s stock after buying an additional 2,134 shares during the quarter. V Square Quantitative Management LLC’s holdings in Etsy were worth $295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Polen Capital Management LLC grew its stake in shares of Etsy by 83.3% in the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock valued at $2,782,000 after buying an additional 15,598 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Etsy by 23,542.9% in the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after buying an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Etsy in the fourth quarter valued at $267,000. TD Asset Management Inc grew its stake in shares of Etsy by 16.8% in the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after buying an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Etsy by 2.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ETSY. The Goldman Sachs Group cut their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Wedbush reaffirmed a “neutral” rating and set a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Canaccord Genuity Group dropped their target price on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. BTIG Research dropped their target price on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their target price on 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, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.68.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Daniel sold 750 shares of the 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 completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,694 shares of company stock worth $169,687. Corporate insiders own 2.60% of the company’s stock.

Etsy Trading Down 3.9 %

ETSY stock traded down $2.12 during trading on Wednesday, hitting $51.94. The company had a trading volume of 1,663,393 shares, compared to its average volume of 3,620,022. The business has a 50-day moving average of $59.89 and a 200-day moving average of $65.19. Etsy, Inc. has a one year low of $51.88 and a one year high of $89.58. The stock has a market cap of $6.07 billion, a PE ratio of 24.69, a PEG ratio of 5.02 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. Research analysts forecast that Etsy, Inc. will post 2.43 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.