Bares Capital Management Inc. Sells 75,530 Shares of Etsy, Inc. $ETSY

Bares Capital Management Inc. trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,433,471 shares of the specialty retailer’s stock after selling 75,530 shares during the quarter. Etsy comprises 7.0% of Bares Capital Management Inc.’s holdings, making the stock its 7th largest position. Bares Capital Management Inc.’s holdings in Etsy were worth $71,903,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock worth $218,890,000 after buying an additional 3,768,787 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Etsy by 112.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock valued at $132,273,000 after acquiring an additional 1,486,142 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Etsy by 62.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the specialty retailer’s stock worth $185,197,000 after acquiring an additional 1,416,772 shares during the period. Norges Bank purchased a new position in shares of Etsy during the second quarter worth $65,207,000. Finally, Artisan Partners Limited Partnership acquired a new position in Etsy during the second quarter valued at $50,033,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $53.77 on Friday. The business’s 50 day moving average price is $61.73 and its 200-day moving average price is $59.97. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 43.37, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETSY shares. Zacks Research raised Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Morgan Stanley upped their target price on Etsy from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $72.00 target price on shares of Etsy in a report on Thursday, October 23rd. UBS Group boosted their price target on Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, Barclays raised their price objective on shares of Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.96.

Insider Buying and Selling at Etsy

In other Etsy news, insider Richard Edward Colburn III sold 3,200 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total transaction of $184,960.00. Following the transaction, the insider owned 4,387 shares of the company’s stock, valued at approximately $253,568.60. The trade was a 42.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Goyal Kruti Patel sold 7,685 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $576,451.85. Following the completion of the sale, the insider directly owned 54,840 shares of the company’s stock, valued at $4,113,548.40. This represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 311,105 shares of company stock worth $21,144,854. 2.80% of the stock is owned by company insiders.

Etsy Company 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.