Etsy Inc (ETSY) : Union Square Opportunity Gp L.l.c. reduced its stake in Etsy Inc by 50.05% during the most recent quarter end. The investment management company now holds a total of 416,000 shares of Etsy Inc which is valued at $3.6 Million after selling 416,795 shares in Etsy Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Etsy Inc makes up approximately 54.50% of Union Square Opportunity Gp L.l.c.’s portfolio.
Other Hedge Funds, Including , Kerrisdale Advisers boosted its stake in ETSY in the latest quarter, The investment management firm added 814,748 additional shares and now holds a total of 1,333,475 shares of Etsy Inc which is valued at $11.5 Million. Etsy Inc makes up approx 1.99% of Kerrisdale Advisers’s portfolio.Focused Wealth Management Inc reduced its stake in ETSY by selling 50 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 800 shares of ETSY which is valued at $6,872.Rhumbline Advisers boosted its stake in ETSY in the latest quarter, The investment management firm added 175 additional shares and now holds a total of 17,382 shares of Etsy Inc which is valued at $143,749.
Etsy Inc opened for trading at $8.5 and hit $8.61 on the upside on Wednesday, eventually ending the session at $8.56, with a gain of 0.82% or 0.07 points. The heightened volatility saw the trading volume jump to 10,46,829 shares. Company has a market cap of $968 M.
On the company’s financial health, Etsy Inc reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.03. The company had revenue of $81.80 million for the quarter, compared to analysts expectations of $75.63 million. The company’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.84 EPS.
Many Wall Street Analysts have commented on Etsy Inc. Maxim Group Initiated Etsy Inc on May 26, 2016 to “Buy”, Price Target of the shares are set at $12.Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Company shares were Reiterated by Wedbush on May 4, 2016 to “Neutral”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .
Etsy Inc. operates a marketplace where people connect both online and offline to make sell and buy goods. The Company operates at the center of macroeconomic trends in online and mobile commerce employment consumption and manufacturing. Its sellers offer goods in online retail categories including jewelry stationery clothing home goods craft supplies and vintage items. The Company supports a range of artists makers designers and collectors. The Company’s community is made up of entrepreneurs who sell on its platform consumers looking to buy goods in its marketplace manufacturers who help its sellers grow their businesses and its employees who maintain its platform. The Company offers a range of services for its sellers which include promoted listings direct checkout and shipping labels. It also provides a range of tools for its buyers including communication search and discovery and mobile.