Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Lifted by Invenomic Capital Management LP

Invenomic Capital Management LP lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 90.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 490,310 shares of the specialty retailer’s stock after buying an additional 233,148 shares during the period. Etsy accounts for approximately 1.8% of Invenomic Capital Management LP’s holdings, making the stock its 14th biggest position. Invenomic Capital Management LP owned 0.42% of Etsy worth $33,694,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. CVA Family Office LLC acquired a new stake in Etsy in the fourth quarter worth $27,000. Sunbelt Securities Inc. grew its position in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Etsy by 402.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Etsy during the fourth quarter valued at approximately $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 1.0 %

NASDAQ:ETSY traded up $0.65 during trading hours on Tuesday, hitting $64.52. 2,713,745 shares of the stock traded hands, compared to its average volume of 3,573,119. The firm has a 50 day moving average price of $61.10 and a 200 day moving average price of $66.11. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 5.09 and a beta of 2.02. Etsy, Inc. has a fifty-two week low of $55.08 and a fifty-two week high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that Etsy, Inc. will post 2.48 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and cut their target price for the company from $70.00 to $50.00 in a research note on Thursday, May 2nd. B. Riley reduced their price objective on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Oppenheimer lowered their target price on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Guggenheim dropped their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus price target of $78.75.

Etsy Profile

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.