Kayne Anderson Rudnick Investment Management LLC Acquires 3,754 Shares of Etsy, Inc. (NASDAQ:ETSY)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in Etsy, Inc. (NASDAQ:ETSY) by 63.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,658 shares of the specialty retailer’s stock after buying an additional 3,754 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Etsy were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ETSY. Pacer Advisors Inc. lifted its position in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after acquiring an additional 721,453 shares during the period. Amalgamated Bank grew its stake in Etsy by 33.8% during the second quarter. Amalgamated Bank now owns 33,825 shares of the specialty retailer’s stock worth $1,995,000 after buying an additional 8,550 shares in the last quarter. Virtu Financial LLC bought a new position in Etsy in the 2nd quarter valued at about $980,000. Edgestream Partners L.P. acquired a new position in shares of Etsy in the 2nd quarter valued at approximately $807,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after acquiring an additional 734,200 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ETSY. Wedbush restated a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research report on Monday, July 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Etsy in a research report on Monday. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on Etsy in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Truist Financial reduced their price target on shares of Etsy from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $70.61.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the transaction, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 2,000 shares of company stock valued at $116,395 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Etsy Price Performance

Shares of ETSY stock opened at $54.83 on Tuesday. The stock has a market capitalization of $6.41 billion, a PE ratio of 25.04, a PEG ratio of 5.10 and a beta of 1.97. The business’s 50 day simple moving average is $56.54 and its 200 day simple moving average is $61.33. Etsy, Inc. has a one year low of $50.63 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly 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 firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period last year, the company posted $0.83 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Etsy, Inc. will post 2.38 earnings per share for the current year.

Etsy Company Profile

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.