Van ECK Associates Corp Boosts Stake in Etsy, Inc. (NASDAQ:ETSY)

Van ECK Associates Corp raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,764,064 shares of the specialty retailer's stock after acquiring an additional 721,454 shares during the quarter. Van ECK Associates Corp owned approximately 4.93% of Etsy worth $339,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Banque Cantonale Vaudoise grew its stake in shares of Etsy by 2,736.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,851 shares of the specialty retailer's stock valued at $286,000 after acquiring an additional 4,680 shares during the period. Hantz Financial Services Inc. bought a new position in shares of Etsy in the second quarter worth approximately $162,000. Panagora Asset Management Inc. increased its stake in shares of Etsy by 1.8% in the second quarter. Panagora Asset Management Inc. now owns 429,001 shares of the specialty retailer's stock worth $25,302,000 after purchasing an additional 7,592 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in shares of Etsy by 13.0% in the second quarter. Ameritas Advisory Services LLC now owns 13,568 shares of the specialty retailer's stock worth $800,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its position in shares of Etsy by 48.1% during the 2nd quarter. Bristlecone Advisors LLC now owns 6,052 shares of the specialty retailer's stock valued at $357,000 after purchasing an additional 1,965 shares during the period. Institutional investors own 99.53% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Etsy from $77.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Wedbush restated a "neutral" rating and issued a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Wolfe Research assumed coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Evercore ISI upgraded shares of Etsy to a "strong-buy" rating in a research note on Thursday, August 1st. Finally, Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a "sell" rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $71.55.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company's stock, valued at approximately $1,125,083.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at $38,882.56. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock worth $169,687 in the last three months. Corporate insiders own 2.60% of the company's stock.

Etsy Stock Performance

NASDAQ ETSY traded down $0.41 during trading on Friday, hitting $55.09. The stock had a trading volume of 9,732,842 shares, compared to its average volume of 3,148,944. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 5.44 and a beta of 2.02. Etsy, Inc. has a one year low of $51.45 and a one year high of $89.58. The stock has a 50 day simple moving average of $58.01 and a 200 day simple moving average of $63.41.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the prior year, the company posted $0.83 EPS. The company's quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Etsy, Inc. will post 2.37 EPS for the current year.

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.