Etsy, Inc. (NASDAQ:ETSY) Stake Cut by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. trimmed its stake in Etsy, Inc. (NASDAQ:ETSY) by 41.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,195 shares of the specialty retailer’s stock after selling 7,338 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Etsy were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ETSY. Polen Capital Management LLC increased its holdings in shares of Etsy by 83.3% during the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock valued at $2,782,000 after purchasing an additional 15,598 shares during the period. MCF Advisors LLC increased its holdings in shares of Etsy by 23,542.9% during the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the period. Coldstream Capital Management Inc. acquired a new position in shares of Etsy during the fourth quarter valued at $267,000. TD Asset Management Inc increased its holdings in shares of Etsy by 16.8% during 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 purchasing an additional 221,275 shares during the period. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Etsy by 2.0% during 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 purchasing an additional 30,561 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Needham & Company LLC lowered their target price on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley lowered their target price on Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.68.

Etsy Stock Performance

Shares of Etsy stock traded up $0.28 during trading on Thursday, hitting $54.92. 369,398 shares of the stock traded hands, compared to its average volume of 3,579,717. The stock has a market cap of $6.42 billion, a P/E ratio of 25.08, a PEG ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a twelve month low of $51.45 and a twelve month high of $89.58. The company has a fifty day moving average price of $58.53 and a two-hundred day moving average price of $64.50.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data 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). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred 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 transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold a total of 2,694 shares of company stock valued at $169,687 in the last three months. Company insiders own 2.60% of the company’s stock.

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.