Etsy, Inc. (NASDAQ:ETSY) Holdings Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 36.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,047 shares of the specialty retailer’s stock after buying an additional 52,036 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Etsy were worth $13,404,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in shares of Etsy by 3,900.0% during the first 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 last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Etsy during the fourth quarter valued at $47,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Etsy during the fourth quarter valued at $49,000. Institutional investors own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction dated 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 owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ETSY. Canaccord Genuity Group reduced their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Oppenheimer reduced their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Guggenheim reduced their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group reduced their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.75.

Etsy Stock Performance

Etsy stock traded up $0.56 on Wednesday, reaching $65.08. The company’s stock had a trading volume of 1,006,451 shares, compared to its average volume of 3,555,540. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 5.22 and a beta of 2.02. Etsy, Inc. has a twelve month low of $55.08 and a twelve month high of $102.81. The business’s fifty day moving average price is $61.10 and its 200 day moving average price is $66.11.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, equities analysts forecast that Etsy, Inc. will post 2.48 earnings per share for the current year.

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.