Headlands Technologies LLC Invests $1.04 Million in Etsy Inc $ETSY

Headlands Technologies LLC purchased a new position in shares of Etsy Inc (NYSE:ETSY) in the second quarter, HoldingsChannel.com reports. The fund purchased 13,877 shares of the company’s stock, valued at approximately $1,045,000.

Several other large investors have also bought and sold shares of ETSY. Two Sigma Securities LLC bought a new stake in shares of Etsy during the 2nd quarter valued at $804,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Etsy by 49.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,159 shares of the company’s stock worth $690,000 after purchasing an additional 3,048 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Etsy in the 2nd quarter worth $3,548,000. United Capital Financial Advisors LLC acquired a new stake in shares of Etsy during the second quarter worth $202,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Etsy during the second quarter worth $2,144,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen lowered Etsy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. President Capital upgraded Etsy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $57.00 to $91.00 in a report on Thursday, June 25th. B. Riley Financial boosted their target price on Etsy from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings cut Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $84.68.

Insider Activity

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total transaction of $1,487,800.00. Following the sale, the director directly owned 441,329 shares in the company, valued at approximately $32,830,464.31. This trade represents a 4.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 97,389 shares of Etsy stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the completion of the transaction, the insider directly owned 130,694 shares in the company, valued at approximately $10,324,826. The trade was a 42.70% 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 have sold 434,737 shares of company stock worth $33,619,606 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Etsy Stock Up 0.8%

ETSY opened at $81.97 on Wednesday. The stock has a market cap of $7.78 billion, a P/E ratio of 45.79, a P/E/G ratio of 3.93 and a beta of 1.81. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $87.97. The company has a fifty day simple moving average of $81.15 and a 200 day simple moving average of $66.74.

Etsy (NYSE:ETSY) last posted its earnings results 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 negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

About Etsy

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.