Northwestern Mutual Wealth Management Co. Makes New Investment in Etsy Inc $ETSY

Northwestern Mutual Wealth Management Co. acquired a new stake in Etsy Inc (NYSE:ETSY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,159 shares of the company’s stock, valued at approximately $690,000.

A number of other hedge funds have also recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after acquiring an additional 594,768 shares in the last quarter. AQR Capital Management LLC boosted its stake in Etsy by 40.1% during the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock valued at $227,785,000 after purchasing an additional 1,177,301 shares during the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Etsy by 51.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after purchasing an additional 1,112,520 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Etsy by 48.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,613,333 shares of the company’s stock worth $121,532,000 after purchasing an additional 523,092 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the completion of the sale, the director owned 421,329 shares in the company, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 1,564 shares of Etsy stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total transaction of $134,316.32. Following the completion of the sale, the chief financial officer directly owned 11,357 shares in the company, valued at $975,339.16. This trade represents a 12.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 584,967 shares of company stock worth $43,908,631 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Etsy Stock Performance

ETSY opened at $81.75 on Thursday. The firm has a market cap of $7.76 billion, a P/E ratio of 45.67, a PEG ratio of 4.08 and a beta of 1.84. The firm has a 50-day moving average of $80.46 and a 200 day moving average of $65.93. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The company had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. Equities research analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Etsy from $61.00 to $76.00 and gave the company an “underweight” rating in a report on Friday, August 7th. Needham & Company LLC upped their price target on Etsy from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Weiss Ratings lowered Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upgraded Etsy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Friday, August 7th. Finally, Sanford C. Bernstein raised shares of Etsy from a “hold” rating to an “outperform” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus target price of $84.68.

Etsy Company Profile

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.