OMERS ADMINISTRATION Corp Takes Position in Etsy Inc $ETSY

OMERS ADMINISTRATION Corp purchased a new stake in Etsy Inc (NYSE:ETSY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,800 shares of the company’s stock, valued at approximately $1,793,000.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock valued at $297,991,000 after purchasing an additional 594,768 shares during the period. AQR Capital Management LLC increased its holdings in shares of Etsy by 40.1% during 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. Van ECK Associates Corp raised its position in shares of Etsy by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after buying an additional 39,067 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Etsy by 51.4% in the first 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. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Etsy by 48.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock valued at $121,532,000 after buying an additional 523,092 shares during the period. 99.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the topic of a number of analyst reports. President Capital raised Etsy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $91.00 in a research report on Thursday, June 25th. Royal Bank Of Canada downgraded Etsy to a “sector perform” rating in a research report on Thursday, August 20th. Susquehanna lowered Etsy to a “neutral” rating in a report on Thursday, May 21st. Arete Research set a $76.00 target price on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Bank of America upgraded Etsy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $88.00 to $95.00 in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.68.

Insiders Place Their Bets

In related news, CFO Charles Baker sold 1,564 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total value of $134,316.32. Following the sale, the chief financial officer directly owned 11,357 shares of the company’s stock, valued at $975,339.16. This trade represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction dated 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 in the company, valued at approximately $35,062,999.38. This 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 ninety days. 2.50% of the stock is owned by insiders.

Etsy Price Performance

NYSE ETSY opened at $81.75 on Thursday. The business has a fifty day moving average price of $80.46 and a two-hundred day moving average price of $65.93. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The stock has a market capitalization of $7.76 billion, a PE ratio of 45.67, a PEG ratio of 4.08 and a beta of 1.84.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The business had revenue of $668.31 million during the quarter, compared to analyst estimates of $646.10 million. During the same period in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Etsy Inc will post 3.94 earnings per share for the current 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.