Lotus Technology Management LP Purchases New Shares in Etsy Inc $ETSY

Lotus Technology Management LP purchased a new position in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,098 shares of the company’s stock, valued at approximately $1,062,000. Etsy comprises approximately 1.3% of Lotus Technology Management LP’s investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in ETSY. William Blair Investment Management LLC bought a new position in Etsy during the second quarter valued at about $120,417,000. SG Americas Securities LLC grew its position in shares of Etsy by 717.7% during the 1st quarter. SG Americas Securities LLC now owns 1,497,174 shares of the company’s stock valued at $74,829,000 after acquiring an additional 1,314,071 shares during the period. AQR Capital Management LLC grew its position in shares of Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after acquiring an additional 1,177,301 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares during the last quarter. Finally, Findlay Park Partners LLP purchased a new stake in shares of Etsy during the 2nd quarter worth approximately $66,170,000. 99.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ETSY. BTIG Research lowered Etsy from a “buy” rating to a “neutral” rating in a report on Thursday, July 16th. Cantor Fitzgerald boosted their target price on Etsy from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Susquehanna cut Etsy to a “neutral” rating in a research report on Thursday, May 21st. Seaport Research Partners upgraded Etsy to a “buy” rating in a research note on Thursday, August 20th. Finally, Citigroup lifted their price objective on Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average price target of $84.68.

Insider Activity

In other news, insider Richard Edward Colburn III sold 8,252 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the transaction, the insider directly owned 6,503 shares in the company, valued at approximately $533,831.27. This represents a 55.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 1,564 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $85.88, for a total value of $134,316.32. Following the transaction, the chief financial officer owned 11,357 shares in the company, valued at $975,339.16. This trade represents a 12.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 584,967 shares of company stock valued at $43,908,631. 2.50% of the stock is owned by insiders.

Etsy Price Performance

ETSY stock opened at $84.59 on Wednesday. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The stock has a market cap of $8.03 billion, a PE ratio of 47.26, a P/E/G ratio of 4.21 and a beta of 1.84. The firm has a 50 day simple moving average of $80.28 and a two-hundred day simple moving average of $65.74.

Etsy (NYSE:ETSY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. During the same quarter last year, the business posted $0.25 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts expect that Etsy Inc will post 3.94 EPS for the current fiscal year.

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.