Ardmore Road Asset Management LP Makes New $15.10 Million Investment in Etsy, Inc. $ETSY

Ardmore Road Asset Management LP acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 301,000 shares of the specialty retailer’s stock, valued at approximately $15,098,000. Etsy makes up approximately 1.2% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 29th largest position. Ardmore Road Asset Management LP owned approximately 0.30% of Etsy as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its stake in Etsy by 0.6% in the second quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock worth $1,440,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Etsy by 18.7% in the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after buying an additional 181 shares during the period. Signaturefd LLC lifted its stake in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 192 shares during the last quarter. Heron Bay Capital Management boosted its holdings in Etsy by 0.8% during the 2nd quarter. Heron Bay Capital Management now owns 26,215 shares of the specialty retailer’s stock valued at $1,315,000 after acquiring an additional 219 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Etsy by 27.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,299 shares of the specialty retailer’s stock worth $65,000 after acquiring an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Goyal Kruti Patel sold 7,685 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the sale, the insider owned 54,840 shares in the company, valued at approximately $4,113,548.40. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,184,480.22. Following the transaction, the chief executive officer owned 78,946 shares of the company’s stock, valued at $4,315,977.82. The trade was a 21.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 376,105 shares of company stock valued at $24,882,354 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Etsy Stock Up 2.1%

ETSY opened at $53.27 on Friday. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51. The stock has a market cap of $5.26 billion, a PE ratio of 42.96, a PEG ratio of 10.65 and a beta of 1.76. The business has a 50 day moving average of $63.42 and a 200-day moving average of $59.82.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. Equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

ETSY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Raymond James Financial reiterated an “outperform” rating and set a $78.00 price target (down from $80.00) on shares of Etsy in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $72.00 price target on shares of Etsy in a research report on Thursday, October 23rd. Jefferies Financial Group boosted their price objective on shares of Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Finally, Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.38.

Etsy 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.