Renaissance Technologies LLC Boosts Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Renaissance Technologies LLC boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 21.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,215,370 shares of the specialty retailer’s stock after acquiring an additional 734,200 shares during the quarter. Renaissance Technologies LLC owned 3.60% of Etsy worth $248,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 358 shares during the period. Larson Financial Group LLC grew its stake in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Etsy during the 2nd quarter worth about $42,000. Finally, Principal Securities Inc. acquired a new stake in Etsy in the 4th quarter valued at about $47,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,000 shares of company stock valued at $116,395 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ETSY. Stifel Nicolaus cut their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wolfe Research assumed coverage on shares of Etsy in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Truist Financial decreased their price objective on shares of Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Loop Capital decreased their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.61.

Etsy Trading Up 7.6 %

Etsy stock opened at $55.65 on Monday. Etsy, Inc. has a twelve month low of $50.63 and a twelve month high of $89.58. The stock has a 50 day moving average of $57.04 and a two-hundred day moving average of $61.97. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 25.41, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Equities analysts predict that Etsy, Inc. will post 2.38 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.