7,891 Shares in Etsy, Inc. $ETSY Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,891 shares of the specialty retailer’s stock, valued at approximately $396,000.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Etsy by 423.7% in the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock valued at $218,890,000 after purchasing an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC boosted its stake in 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 purchasing an additional 1,486,142 shares during the period. Victory Capital Management Inc. grew its holdings in Etsy by 53.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer’s stock valued at $58,923,000 after buying an additional 436,231 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Etsy by 140.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,454 shares of the specialty retailer’s stock worth $33,566,000 after buying an additional 415,942 shares during the period. Finally, Bank of Nova Scotia bought a new position in Etsy during the 1st quarter worth $19,454,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Etsy from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Truist Financial boosted their price objective on shares of Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $72.00 target price on shares of Etsy in a research report on Thursday, October 23rd. UBS Group lifted their price target on shares of Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Finally, Stifel Nicolaus boosted their price target on Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.24.

Etsy Trading Up 0.1%

Shares of NASDAQ:ETSY opened at $63.82 on Thursday. The firm has a 50 day moving average of $65.44 and a 200-day moving average of $58.86. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The stock has a market capitalization of $6.30 billion, a PE ratio of 51.47, a PEG ratio of 10.65 and a beta of 1.87.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. During the same period last year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $72.50, for a total transaction of $10,875,000.00. Following the completion of the transaction, the chief executive officer owned 62,674 shares of the company’s stock, valued at approximately $4,543,865. The trade was a 70.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Michele Burns sold 14,464 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.82, for a total transaction of $908,628.48. Following the completion of the transaction, the director directly owned 19,964 shares of the company’s stock, valued at $1,254,138.48. This trade represents a 42.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 394,619 shares of company stock worth $25,966,574 in the last three months. Insiders own 2.80% of the company’s stock.

About Etsy

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.