Pacer Advisors Inc. Buys 721,453 Shares of Etsy, Inc. (NASDAQ:ETSY)

Pacer Advisors Inc. grew its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 52.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,100,284 shares of the specialty retailer’s stock after buying an additional 721,453 shares during the period. Pacer Advisors Inc. owned 1.80% of Etsy worth $123,875,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ETSY. Amalgamated Bank boosted its position in shares of Etsy by 33.8% in the second quarter. Amalgamated Bank now owns 33,825 shares of the specialty retailer’s stock worth $1,995,000 after purchasing an additional 8,550 shares during the period. Virtu Financial LLC purchased a new position in shares of Etsy during the 2nd quarter valued at $980,000. Edgestream Partners L.P. bought a new position in Etsy in the 2nd quarter worth $807,000. Renaissance Technologies LLC increased its stake in Etsy by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock worth $248,623,000 after buying an additional 734,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Etsy by 53.6% during the second quarter. Dimensional Fund Advisors LP now owns 933,062 shares of the specialty retailer’s stock valued at $55,032,000 after acquiring an additional 325,709 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Down 0.3 %

Etsy stock opened at $53.91 on Friday. The business’s 50-day moving average price is $56.67 and its 200 day moving average price is $61.53. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 5.10 and a beta of 1.98. Etsy, Inc. has a 52 week low of $50.63 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $629.87 million. During the same quarter in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Etsy, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ETSY shares. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Loop Capital cut their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Cantor Fitzgerald initiated coverage on shares of Etsy in a report on Thursday, September 5th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.61.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

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.