Etsy Inc. (ETSY) is Glynn Capital Management LLC’s Largest Position
Glynn Capital Management LLC held its stake in Etsy Inc. (NASDAQ:ETSY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,539,261 shares of the company’s stock at the end of the second quarter. Etsy makes up 11.1% of Glynn Capital Management LLC’s investment portfolio, making the stock its largest position. Glynn Capital Management LLC owned approximately 3.19% of Etsy worth $33,942,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacad Investment Ltd. purchased a new stake in Etsy during the first quarter worth $131,000. JPMorgan Chase & Co. increased its stake in shares of Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock worth $4,726,000 after buying an additional 162,213 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Etsy by 3.9% in the first quarter. Geode Capital Management LLC now owns 169,884 shares of the company’s stock worth $1,477,000 after buying an additional 6,370 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Etsy during the first quarter worth about $177,000. Finally, Hamilton Lane Advisors LLC increased its stake in shares of Etsy by 6.6% in the second quarter. Hamilton Lane Advisors LLC now owns 352,959 shares of the company’s stock worth $3,265,000 after buying an additional 21,884 shares during the last quarter. Institutional investors and hedge funds own 58.14% of the company’s stock.
Shares of Etsy Inc. (NASDAQ:ETSY) traded down 0.76% during trading on Monday, reaching $14.37. 897,563 shares of the company’s stock traded hands. The company has a 50 day moving average price of $14.38 and a 200-day moving average price of $11.13. The stock’s market cap is $1.60 billion. Etsy Inc. has a one year low of $6.04 and a one year high of $16.05.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. The company had revenue of $85.35 million for the quarter, compared to analyst estimates of $80.55 million. During the same quarter last year, the company earned ($0.07) EPS. The business’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts expect that Etsy Inc. will post ($0.06) EPS for the current fiscal year.
A number of analysts have recently issued reports on ETSY shares. Loop Capital started coverage on shares of Etsy in a report on Tuesday, September 13th. They set a “hold” rating and a $14.00 price target on the stock. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. raised their price target on shares of Etsy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $13.50 price target (up previously from $11.50) on shares of Etsy in a report on Monday, September 12th. Finally, Monness Crespi & Hardt raised shares of Etsy from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.73.
In other news, insider John Allspaw sold 63,468 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the transaction, the insider now owns 66,864 shares in the company, valued at $835,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Chad Dickerson sold 105,289 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the transaction, the chief executive officer now owns 857,645 shares in the company, valued at approximately $13,722,320. The disclosure for this sale can be found here. Insiders own 11.10% of the company’s stock.
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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