Holocene Advisors LP Sells 2,238,257 Shares of Etsy Inc $ETSY

Holocene Advisors LP lowered its position in Etsy Inc (NYSE:ETSY) by 41.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,105,540 shares of the company’s stock after selling 2,238,257 shares during the period. Holocene Advisors LP’s holdings in Etsy were worth $206,177,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETSY. Public Sector Pension Investment Board increased its position in Etsy by 21.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 430,824 shares of the company’s stock valued at $28,602,000 after buying an additional 75,295 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Etsy by 1,648.1% in the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after acquiring an additional 666,253 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Etsy in the third quarter worth about $1,889,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Etsy by 62.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,692,134 shares of the company’s stock worth $185,197,000 after acquiring an additional 1,416,772 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in shares of Etsy by 30.5% during the third quarter. Picton Mahoney Asset Management now owns 95,008 shares of the company’s stock valued at $6,307,000 after acquiring an additional 22,229 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other news, insider Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $53.26, for a total value of $1,153,931.16. Following the completion of the transaction, the insider owned 90,661 shares of the company’s stock, valued at $4,828,604.86. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 5,636 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $58.45, for a total value of $329,424.20. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 116,058 shares of company stock valued at $6,576,362. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Etsy from $63.00 to $54.00 and set a “hold” rating for the company in a research report on Tuesday, February 24th. B. Riley Financial dropped their target price on shares of Etsy from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Stifel Nicolaus cut their price target on shares of Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Wall Street Zen raised shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Cantor Fitzgerald lowered their price objective on shares of Etsy from $55.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $60.80.

Etsy Stock Performance

Shares of NYSE ETSY opened at $52.00 on Monday. The company’s 50 day simple moving average is $55.38. The firm has a market cap of $5.00 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 3.31 and a beta of 1.74. Etsy Inc has a 12 month low of $40.05 and a 12 month high of $76.51.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 5.65% and a negative return on equity of 24.94%. The firm had revenue of $881.64 million for the quarter.

Etsy declared that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to purchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.