Cubist Systematic Strategies LLC Raises Stake in Etsy Inc (NASDAQ:ETSY)

Cubist Systematic Strategies LLC boosted its position in Etsy Inc (NASDAQ:ETSY) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,126 shares of the specialty retailer’s stock after buying an additional 16,538 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.11% of Etsy worth $8,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETSY. First Trust Advisors LP boosted its position in Etsy by 1,054.2% in the 1st quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock worth $163,112,000 after purchasing an additional 2,216,303 shares in the last quarter. Jennison Associates LLC purchased a new stake in Etsy in the 1st quarter worth approximately $37,664,000. Paloma Partners Management Co boosted its position in Etsy by 2,345.8% in the 2nd quarter. Paloma Partners Management Co now owns 356,547 shares of the specialty retailer’s stock worth $21,882,000 after purchasing an additional 341,969 shares in the last quarter. Invesco Ltd. boosted its position in Etsy by 22.0% in the 2nd quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after purchasing an additional 266,462 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in Etsy by 167.3% in the 1st quarter. Federated Investors Inc. PA now owns 341,063 shares of the specialty retailer’s stock worth $22,926,000 after purchasing an additional 213,460 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

In related news, CTO Michael T. Fisher sold 5,194 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.00, for a total value of $259,700.00. Following the completion of the transaction, the chief technology officer now directly owns 17,387 shares of the company’s stock, valued at approximately $869,350. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Goyal Kruti Patel sold 4,505 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total value of $278,409.00. Following the completion of the transaction, the senior vice president now directly owns 16,389 shares of the company’s stock, valued at $1,012,840.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,572 shares of company stock valued at $1,987,881. 3.00% of the stock is owned by corporate insiders.

Shares of NASDAQ:ETSY traded up $1.34 during midday trading on Friday, reaching $60.41. 5,875,328 shares of the company’s stock traded hands, compared to its average volume of 3,210,851. Etsy Inc has a 1 year low of $38.02 and a 1 year high of $73.35. The company has a market cap of $7.12 billion, a P/E ratio of 99.03, a PEG ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.47 and a current ratio of 4.47. The company has a fifty day simple moving average of $54.61 and a two-hundred day simple moving average of $63.12.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Etsy had a return on equity of 26.77% and a net margin of 15.83%. The firm had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.28 million. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 36.8% compared to the same quarter last year. As a group, research analysts forecast that Etsy Inc will post 0.76 EPS for the current fiscal year.

Several equities research analysts have commented on the company. ValuEngine lowered Etsy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub upgraded Etsy from a “strong sell” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus upgraded Etsy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 21st. Morgan Stanley set a $65.00 target price on Etsy and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Etsy has an average rating of “Buy” and a consensus price target of $73.80.

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.

See Also: Strike Price

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy Inc (NASDAQ:ETSY).

Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.