TimesSquare Capital Management LLC Grows Stake in Etsy Inc (NASDAQ:ETSY)

TimesSquare Capital Management LLC grew its position in Etsy Inc (NASDAQ:ETSY) by 79.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 322,300 shares of the specialty retailer’s stock after purchasing an additional 142,900 shares during the period. TimesSquare Capital Management LLC’s holdings in Etsy were worth $19,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Etsy by 57.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 240,246 shares of the specialty retailer’s stock valued at $11,429,000 after buying an additional 87,209 shares during the period. Geode Capital Management LLC increased its stake in shares of Etsy by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock valued at $71,275,000 after buying an additional 104,042 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Etsy in the first quarter valued at about $246,000. Foundry Partners LLC acquired a new stake in shares of Etsy in the first quarter valued at about $1,554,000. Finally, First Quadrant L P CA grew its stake in Etsy by 82.3% during the first quarter. First Quadrant L P CA now owns 1,730 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 781 shares during the period. 95.15% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on ETSY shares. DA Davidson reaffirmed a “buy” rating on shares of Etsy in a research note on Monday, August 5th. TheStreet cut Etsy from a “b” rating to a “c+” rating in a research note on Friday, May 24th. KeyCorp set a $90.00 target price on Etsy and gave the stock a “buy” rating in a research note on Friday, August 2nd. BTIG Research raised Etsy from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on Etsy from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Etsy currently has an average rating of “Hold” and a consensus target price of $73.13.

NASDAQ:ETSY traded up $0.90 on Friday, hitting $52.61. The stock had a trading volume of 1,810,600 shares, compared to its average volume of 2,875,851. The business’s fifty day moving average is $62.75 and its 200 day moving average is $63.86. The company has a market cap of $6.23 billion, a PE ratio of 86.25, a P/E/G ratio of 3.24 and a beta of 0.92. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. Etsy Inc has a 52 week low of $38.02 and a 52 week high of $73.35.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.28 million. Etsy had a return on equity of 26.77% and a net margin of 15.83%. The company’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities analysts predict that Etsy Inc will post 0.78 earnings per share for the current fiscal year.

In other Etsy news, CTO Michael T. Fisher sold 5,209 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $61.31, for a total value of $319,363.79. Following the transaction, the chief technology officer now owns 32,435 shares in the company, valued at $1,988,589.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Michael T. Fisher sold 13,442 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $61.82, for a total value of $830,984.44. Following the completion of the transaction, the chief technology officer now owns 34,258 shares in the company, valued at approximately $2,117,829.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,572 shares of company stock worth $2,046,791. Corporate insiders own 3.00% of the company’s stock.

Etsy Company Profile

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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