MBB Public Markets I LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

MBB Public Markets I LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 ETSY. Marshall Wace LLP boosted its holdings in shares of Etsy by 304.2% in the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock worth $82,703,000 after buying an additional 1,055,296 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 21.1% in the 2nd 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 last quarter. Van ECK Associates Corp boosted its holdings in shares of Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock worth $339,964,000 after buying an additional 721,454 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Etsy by 52.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock worth $123,875,000 after buying an additional 721,453 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in Etsy by 84.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,309,510 shares of the specialty retailer’s stock valued at $106,136,000 after purchasing an additional 599,286 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,000 shares of company stock worth $116,395 in the last quarter. 2.60% of the stock is owned by insiders.

Etsy Price Performance

ETSY opened at $52.30 on Wednesday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 5.39 and a beta of 1.97. The business has a fifty day moving average price of $55.72 and a 200 day moving average price of $60.80. Etsy, Inc. has a 12 month low of $50.63 and a 12 month high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly 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%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, research analysts anticipate that Etsy, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETSY. Loop Capital decreased their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus dropped their price objective on Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Evercore ISI raised Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Wedbush reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and an average target price of $70.61.

About Etsy

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.