Trillium Asset Management LLC Makes New Investment in Etsy Inc $ETSY

Trillium Asset Management LLC bought a new stake in Etsy Inc (NYSE:ETSY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 62,658 shares of the company’s stock, valued at approximately $4,720,000. Trillium Asset Management LLC owned about 0.07% of Etsy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ETSY. SG Americas Securities LLC boosted its position in Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock worth $74,829,000 after acquiring an additional 1,314,071 shares during the period. AQR Capital Management LLC lifted its holdings in Etsy by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Etsy by 51.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock valued at $163,841,000 after buying an additional 1,112,520 shares in the last quarter. Norges Bank bought a new position in Etsy in the 4th quarter valued at about $33,903,000. Finally, Renaissance Technologies LLC increased its stake in Etsy by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after buying an additional 594,768 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In related news, CAO Merilee Buckley sold 405 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $79.50, for a total value of $32,197.50. Following the completion of the transaction, the chief accounting officer owned 167 shares in the company, valued at $13,276.50. This trade represents a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the transaction, the director owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 584,967 shares of company stock valued at $43,908,631 over the last 90 days. 2.50% of the stock is owned by insiders.

Etsy News Summary

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from Neutral to Buy and raised its price target from $88 to $95. The firm said Etsy’s recent growth appears increasingly structural rather than a temporary spike, while viewing management’s strategy execution as better than expected and estimates as conservative. BofA also identified potential support from future share repurchases. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside. The brokerage favored Etsy among the e-commerce companies it reviewed, pointing to improving execution despite slower underlying market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, adding another major investment bank to the stock’s analyst base, although no rating or price target was provided in the report. Etsy research coverage started at Goldman Sachs
• Negative Sentiment: Two insiders disclosed sales made under pre-arranged Rule 10b5-1 plans. Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions are modest in dollar value, but Buckley’s sale substantially reduced her remaining direct holdings and may create a minor sentiment overhang. Etsy insider stock sales

Etsy Stock Performance

Etsy stock opened at $81.30 on Friday. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 5.51 and a beta of 1.84. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The firm’s 50 day moving average price is $79.54 and its two-hundred day moving average price is $65.08.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. Etsy’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. As a group, equities analysts predict that Etsy Inc will post 3.94 EPS for the current fiscal year.

Analyst Ratings Changes

ETSY has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Morgan Stanley upgraded shares of Etsy from an “underweight” rating to an “outperform” rating in a research note on Thursday. Guggenheim boosted their target price on Etsy from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Citigroup upped their target price on Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company increased their price target on Etsy from $61.00 to $76.00 and gave the company an “underweight” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $84.68.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.