Bares Capital Management Inc. grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Free Report) by 35.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,004,303 shares of the specialty retailer’s stock after purchasing an additional 521,260 shares during the quarter. Etsy makes up 7.9% of Bares Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Bares Capital Management Inc. owned 1.62% of Etsy worth $223,139,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in Etsy by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the specialty retailer’s stock worth $913,000 after acquiring an additional 100 shares during the last quarter. Empirical Finance LLC increased its holdings in Etsy by 4.4% in the 1st quarter. Empirical Finance LLC now owns 3,038 shares of the specialty retailer’s stock worth $338,000 after acquiring an additional 128 shares during the last quarter. PARUS FINANCE UK Ltd increased its holdings in Etsy by 2.9% in the 1st quarter. PARUS FINANCE UK Ltd now owns 4,540 shares of the specialty retailer’s stock worth $505,000 after acquiring an additional 130 shares during the last quarter. Park Place Capital Corp increased its holdings in Etsy by 15.2% in the 1st quarter. Park Place Capital Corp now owns 1,053 shares of the specialty retailer’s stock worth $117,000 after acquiring an additional 139 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in Etsy by 0.7% in the 1st quarter. New York Life Investment Management LLC now owns 20,671 shares of the specialty retailer’s stock worth $2,301,000 after acquiring an additional 144 shares during the last quarter. 92.98% of the stock is owned by hedge funds and other institutional investors.
Etsy Price Performance
Shares of Etsy stock opened at $64.82 on Tuesday. The business’s 50 day simple moving average is $82.86 and its two-hundred day simple moving average is $93.32. The stock has a market capitalization of $7.97 billion, a P/E ratio of -11.04, a price-to-earnings-growth ratio of 3.51 and a beta of 2.03. Etsy, Inc. has a one year low of $64.78 and a one year high of $149.91.
Insider Activity
In other news, insider Nicholas Daniel sold 1,760 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total transaction of $178,904.00. Following the transaction, the insider now directly owns 8,704 shares of the company’s stock, valued at $884,761.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Josh Silverman sold 10,425 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $83.80, for a total transaction of $873,615.00. Following the transaction, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at $1,229,681.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,760 shares of Etsy stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $101.65, for a total value of $178,904.00. Following the sale, the insider now owns 8,704 shares in the company, valued at $884,761.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,998 shares of company stock valued at $7,859,120. Company insiders own 2.60% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Loop Capital cut their target price on Etsy from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Monday. Truist Financial raised their target price on Etsy from $120.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Piper Sandler cut their target price on Etsy from $140.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. Wells Fargo & Company assumed coverage on Etsy in a research note on Wednesday, June 7th. They issued an “underweight” rating and a $70.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Etsy in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $117.13.
Check Out Our Latest Analysis on Etsy
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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