Lion Street Advisors LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,334 shares of the specialty retailer's stock, valued at approximately $337,000.
Several other hedge funds and other institutional investors have also bought and sold shares of ETSY. Schroder Investment Management Group boosted its stake in Etsy by 22.6% during the 4th quarter. Schroder Investment Management Group now owns 50,951 shares of the specialty retailer's stock worth $11,155,000 after acquiring an additional 9,376 shares during the last quarter. Mutual Advisors LLC boosted its stake in Etsy by 5.7% during the 4th quarter. Mutual Advisors LLC now owns 1,866 shares of the specialty retailer's stock worth $409,000 after acquiring an additional 100 shares during the last quarter. Blair William & Co. IL boosted its stake in Etsy by 6.1% during the 4th quarter. Blair William & Co. IL now owns 19,554 shares of the specialty retailer's stock worth $4,281,000 after acquiring an additional 1,131 shares during the last quarter. ETF Managers Group LLC boosted its stake in Etsy by 4.9% during the 4th quarter. ETF Managers Group LLC now owns 3,385 shares of the specialty retailer's stock worth $752,000 after acquiring an additional 159 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Etsy by 13.5% during the 4th quarter. LPL Financial LLC now owns 109,047 shares of the specialty retailer's stock worth $23,875,000 after acquiring an additional 12,957 shares during the last quarter. Institutional investors own 98.68% of the company's stock.
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Wall Street Analyst Weigh In
ETSY has been the topic of several recent analyst reports. Raymond James initiated coverage on shares of Etsy in a research note on Wednesday, June 29th. They set an "outperform" rating and a $100.00 price objective on the stock. UBS Group dropped their target price on shares of Etsy from $180.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, June 3rd. Oppenheimer raised their target price on shares of Etsy from $120.00 to $127.00 and gave the stock an "outperform" rating in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Etsy from $100.00 to $90.00 in a report on Thursday, July 21st. Finally, Stifel Nicolaus dropped their target price on shares of Etsy from $130.00 to $125.00 in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $128.90.
Insider Buying and Selling
In other Etsy news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $86.66, for a total transaction of $1,806,861.00. Following the completion of the transaction, the chief executive officer now directly owns 102,707 shares of the company's stock, valued at $8,900,588.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Etsy news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $86.66, for a total transaction of $1,806,861.00. Following the completion of the transaction, the chief executive officer now directly owns 102,707 shares of the company's stock, valued at $8,900,588.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Ryan M. Scott sold 712 shares of Etsy stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total transaction of $71,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,210 shares of company stock worth $14,178,593. Insiders own 3.10% of the company's stock.
Etsy Stock Down 2.2 %
ETSY traded down $2.17 during trading on Monday, reaching $94.30. 2,481,734 shares of the stock were exchanged, compared to its average volume of 4,083,135. The stock has a market cap of $11.94 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 5.08 and a beta of 1.86. Etsy, Inc. has a twelve month low of $67.01 and a twelve month high of $307.75. The stock's 50 day moving average price is $105.86 and its two-hundred day moving average price is $100.95. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.93 and a current ratio of 2.93.
Etsy (NASDAQ:ETSY – Get Rating) last issued its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.13. The business had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. Etsy had a net margin of 17.01% and a return on equity of 67.88%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Equities analysts expect that Etsy, Inc. will post 2.35 EPS for the current year.
Etsy Company Profile
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Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. 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.
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