Jasper Ridge Partners L.P. Continues to Hold Holdings in Etsy, Inc. (ETSY)
Jasper Ridge Partners L.P. maintained its stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 41,496 shares of the specialty retailer’s stock at the end of the 2nd quarter. Jasper Ridge Partners L.P.’s holdings in Etsy were worth $622,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ETSY. FNY Managed Accounts LLC acquired a new stake in Etsy during the first quarter worth approximately $105,000. UBS Group AG lifted its position in Etsy by 30.7% during the first quarter. UBS Group AG now owns 10,091 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 2,373 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new stake in Etsy during the first quarter worth approximately $174,000. Principal Financial Group Inc. lifted its position in Etsy by 9.0% during the second quarter. Principal Financial Group Inc. now owns 16,099 shares of the specialty retailer’s stock worth $241,000 after acquiring an additional 1,330 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Etsy by 263.8% during the first quarter. BNP Paribas Arbitrage SA now owns 27,160 shares of the specialty retailer’s stock worth $289,000 after acquiring an additional 19,694 shares during the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.
Several brokerages have issued reports on ETSY. Zacks Investment Research upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday. DA Davidson began coverage on shares of Etsy in a research report on Wednesday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. BidaskClub upgraded shares of Etsy from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Ifs Securities restated an “outperform” rating and set a $18.00 price objective on shares of Etsy in a research report on Thursday, August 24th. Finally, Stifel Nicolaus lifted their price target on shares of Etsy from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Etsy has an average rating of “Hold” and a consensus price target of $15.00.
In other Etsy news, CEO Josh Silverman acquired 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the acquisition, the chief executive officer now owns 64,000 shares in the company, valued at $1,002,880. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.
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Shares of Etsy, Inc. (ETSY) traded up 1.95% on Monday, reaching $17.21. 397,885 shares of the company’s stock traded hands. The firm’s market cap is $1.91 billion. The company’s 50-day moving average price is $15.51 and its 200 day moving average price is $13.05. Etsy, Inc. has a one year low of $9.41 and a one year high of $17.49.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $101.70 million during the quarter, compared to the consensus estimate of $101.14 million. Etsy had a negative net margin of 3.16% and a positive return on equity of 3.83%. Etsy’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. On average, equities analysts forecast that Etsy, Inc. will post $0.27 EPS for the current fiscal year.
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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