Etsy, Inc. (NASDAQ:ETSY) Holdings Raised by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 6.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 862,230 shares of the specialty retailer’s stock after acquiring an additional 54,288 shares during the period. Etsy makes up approximately 2.9% of Granahan Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. Granahan Investment Management LLC owned 0.70% of Etsy worth $95,992,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Park Place Capital Corp grew its stake in shares of Etsy by 15.2% during the first quarter. Park Place Capital Corp now owns 1,053 shares of the specialty retailer’s stock worth $117,000 after acquiring an additional 139 shares during the last quarter. Quantinno Capital Management LP boosted its position in Etsy by 7.0% in the first quarter. Quantinno Capital Management LP now owns 3,830 shares of the specialty retailer’s stock valued at $426,000 after buying an additional 250 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in Etsy in the first quarter valued at approximately $9,763,000. Victory Capital Management Inc. boosted its position in Etsy by 3.5% in the first quarter. Victory Capital Management Inc. now owns 109,706 shares of the specialty retailer’s stock valued at $12,214,000 after buying an additional 3,722 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Etsy by 4,127.7% in the first quarter. Pacer Advisors Inc. now owns 105,523 shares of the specialty retailer’s stock valued at $11,748,000 after buying an additional 103,027 shares during the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ETSY shares. Bank of America dropped their target price on Etsy from $123.00 to $110.00 in a research report on Friday, July 28th. Piper Sandler dropped their target price on Etsy from $140.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. DA Davidson decreased their price target on Etsy from $166.00 to $157.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. TheStreet downgraded Etsy from a “c-” rating to a “d+” rating in a report on Tuesday, May 23rd. Finally, StockNews.com assumed coverage on Etsy in a report on Thursday, August 17th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $118.43.

Etsy Stock Performance

NASDAQ ETSY opened at $67.13 on Friday. The business has a fifty day moving average price of $83.27 and a 200 day moving average price of $94.03. Etsy, Inc. has a one year low of $66.68 and a one year high of $149.91. The company has a market cap of $8.26 billion, a P/E ratio of -11.44, a P/E/G ratio of 3.51 and a beta of 2.03.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.83 EPS for the quarter, beating the consensus estimate of $0.41 by $0.42. Etsy had a negative return on equity of 69.10% and a negative net margin of 26.84%. The firm had revenue of $628.88 million during the quarter, compared to the consensus estimate of $621.87 million. As a group, sell-side analysts predict that Etsy, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $95.33, for a total value of $1,987,630.50. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at approximately $1,398,872.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $95.33, for a total value of $1,987,630.50. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at approximately $1,398,872.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,760 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $101.65, for a total value of $178,904.00. Following the completion of the sale, the insider now owns 8,704 shares of the company’s stock, valued at $884,761.60. The disclosure for this sale can be found here. Insiders sold a total of 85,998 shares of company stock worth $7,859,120 in the last three months. 2.60% of the stock is owned by corporate insiders.

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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.