Susquehanna Portfolio Strategies LLC Has $9.97 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

Susquehanna Portfolio Strategies LLC lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 4.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,002 shares of the specialty retailer’s stock after selling 7,074 shares during the period. Susquehanna Portfolio Strategies LLC owned approximately 0.12% of Etsy worth $9,965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Forsta AP Fonden lifted its position in shares of Etsy by 7.8% in the first quarter. Forsta AP Fonden now owns 27,600 shares of the specialty retailer’s stock worth $1,897,000 after buying an additional 2,000 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Etsy by 184.3% in the first quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock worth $3,856,000 after buying an additional 36,372 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Etsy by 1,220.1% during the 1st quarter. Empowered Funds LLC now owns 107,892 shares of the specialty retailer’s stock worth $7,414,000 after purchasing an additional 99,719 shares during the last quarter. Duality Advisers LP lifted its position in shares of Etsy by 94.1% during the 1st quarter. Duality Advisers LP now owns 21,783 shares of the specialty retailer’s stock worth $1,497,000 after purchasing an additional 10,562 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of Etsy by 2.8% during the 1st quarter. Geneva Capital Management LLC now owns 69,965 shares of the specialty retailer’s stock worth $4,808,000 after purchasing an additional 1,934 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ETSY shares. Canaccord Genuity Group cut their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group cut their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC cut their price target on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.88.

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Etsy Stock Up 3.8 %

ETSY stock traded up $2.19 during midday trading on Friday, reaching $60.50. 4,076,776 shares of the company’s stock traded hands, compared to its average volume of 2,935,530. The company has a 50-day simple moving average of $61.25 and a two-hundred day simple moving average of $67.45. Etsy, Inc. has a 1-year low of $55.08 and a 1-year high of $102.81. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 4.93 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts forecast that Etsy, Inc. will post 2.49 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.