Integrated Wealth Concepts LLC raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 29.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,086 shares of the specialty retailer’s stock after purchasing an additional 469 shares during the period. Integrated Wealth Concepts LLC’s holdings in Etsy were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Archer Investment Corp bought a new position in Etsy in the first quarter valued at approximately $185,000. MetLife Investment Management LLC grew its stake in shares of Etsy by 43.4% during the first quarter. MetLife Investment Management LLC now owns 40,157 shares of the specialty retailer’s stock worth $4,991,000 after purchasing an additional 12,146 shares during the period. Northeast Financial Consultants Inc grew its stake in shares of Etsy by 93.1% during the first quarter. Northeast Financial Consultants Inc now owns 2,935 shares of the specialty retailer’s stock worth $365,000 after purchasing an additional 1,415 shares during the period. Accretive Wealth Partners LLC increased its holdings in Etsy by 8.7% in the first quarter. Accretive Wealth Partners LLC now owns 3,318 shares of the specialty retailer’s stock valued at $412,000 after purchasing an additional 265 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in Etsy by 22,243.6% during the first quarter. CI Investments Inc. now owns 388,331 shares of the specialty retailer’s stock worth $48,262,000 after buying an additional 386,593 shares during the last quarter. Institutional investors own 98.68% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ETSY. Evercore ISI lowered their price target on Etsy from $130.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. BTIG Research increased their target price on shares of Etsy from $105.00 to $122.00 in a report on Thursday, July 28th. JMP Securities reissued a “mkt outperform” rating and issued a $125.00 price target on shares of Etsy in a report on Wednesday, June 1st. UBS Group dropped their price objective on Etsy from $180.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, June 3rd. Finally, Truist Financial increased their price target on Etsy from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.35.
Etsy Stock Up 3.4 %
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. Etsy had a net margin of 17.01% and a return on equity of 67.88%. The business had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts expect that Etsy, Inc. will post 2.18 earnings per share for the current fiscal year.
In related news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $74.14, for a total transaction of $1,545,819.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares in the company, valued at $7,614,696.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Ryan M. Scott sold 712 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $100.00, for a total value of $71,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $74.14, for a total transaction of $1,545,819.00. Following the sale, the chief executive officer now owns 102,707 shares of the company’s stock, valued at $7,614,696.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,320 shares of company stock valued at $10,959,493. 3.10% of the stock is owned by company insiders.
Etsy Company Profile
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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