Kayne Anderson Rudnick Investment Management LLC Has $570,000 Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 63.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,658 shares of the specialty retailer’s stock after acquiring an additional 3,754 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Etsy were worth $570,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ETSY. Sunbelt Securities Inc. lifted its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the last quarter. Larson Financial Group LLC boosted its stake in Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Etsy during the 2nd quarter worth $42,000. Finally, Quadrant Capital Group LLC raised its position in shares of Etsy by 56.4% during the 4th quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock valued at $56,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ:ETSY opened at $54.83 on Tuesday. The stock’s 50-day simple moving average is $56.54 and its 200 day simple moving average is $61.33. Etsy, Inc. has a 52-week low of $50.63 and a 52-week high of $89.58. The company has a market cap of $6.41 billion, a P/E ratio of 25.04, a P/E/G ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data 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). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same quarter in the prior year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ETSY. Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Truist Financial lowered their price target on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Wedbush reissued a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Loop Capital decreased their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Etsy in a report on Monday. Four equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.61.

Insider Activity

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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,000 shares of company stock valued at $116,395 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.