Rhumbline Advisers Has $10.66 Million Holdings in Etsy Inc (ETSY)

Rhumbline Advisers lessened its stake in Etsy Inc (NASDAQ:ETSY) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,594 shares of the specialty retailer’s stock after selling 490 shares during the period. Rhumbline Advisers’ holdings in Etsy were worth $10,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HL Financial Services LLC purchased a new stake in shares of Etsy in the first quarter worth approximately $340,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Etsy in the first quarter worth approximately $8,786,000. Eagle Asset Management Inc. raised its stake in shares of Etsy by 16.1% in the first quarter. Eagle Asset Management Inc. now owns 1,074,077 shares of the specialty retailer’s stock worth $72,199,000 after purchasing an additional 148,637 shares during the last quarter. Menta Capital LLC purchased a new stake in shares of Etsy in the first quarter worth approximately $437,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Etsy by 137.4% in the first quarter. First Republic Investment Management Inc. now owns 18,050 shares of the specialty retailer’s stock worth $1,213,000 after purchasing an additional 10,448 shares during the last quarter. Hedge funds and other institutional investors own 93.69% of the company’s stock.

In other Etsy news, SVP Goyal Kruti Patel sold 3,753 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $69.69, for a total transaction of $261,546.57. Following the completion of the transaction, the senior vice president now directly owns 16,389 shares of the company’s stock, valued at $1,142,149.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael T. Fisher sold 57,292 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $68.65, for a total value of $3,933,095.80. Following the transaction, the insider now directly owns 84,518 shares of the company’s stock, valued at $5,802,160.70. The disclosure for this sale can be found here. Insiders have sold 184,285 shares of company stock valued at $12,638,801 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

ETSY has been the subject of several analyst reports. Citigroup reissued a “buy” rating and issued a $80.00 price objective on shares of Etsy in a research note on Tuesday, February 26th. KeyCorp increased their price objective on Etsy from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 8th. ValuEngine raised Etsy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 19th. Zacks Investment Research downgraded Etsy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Loop Capital increased their price target on Etsy from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $68.87.

Shares of ETSY opened at $62.78 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.87 and a quick ratio of 4.87. The company has a market cap of $7.55 billion, a P/E ratio of 84.84, a price-to-earnings-growth ratio of 3.96 and a beta of 0.98. Etsy Inc has a 12 month low of $28.60 and a 12 month high of $73.35.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.10. The company had revenue of $169.33 million during the quarter, compared to the consensus estimate of $170.72 million. Etsy had a return on equity of 24.24% and a net margin of 14.74%. Etsy’s revenue was up 40.0% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. On average, equities research analysts predict that Etsy Inc will post 0.82 EPS for the current year.

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About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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