Etsy, Inc. (NASDAQ:ETSY) Holdings Increased by Emerson Point Capital LP

Emerson Point Capital LP grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSYGet Rating) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,618 shares of the specialty retailer’s stock after buying an additional 34,289 shares during the quarter. Etsy accounts for approximately 6.3% of Emerson Point Capital LP’s holdings, making the stock its 4th biggest holding. Emerson Point Capital LP owned approximately 0.20% of Etsy worth $32,017,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rinkey Investments purchased a new stake in shares of Etsy during the 4th quarter valued at about $26,000. American National Bank grew its holdings in Etsy by 71.3% during the 1st quarter. American National Bank now owns 209 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Covestor Ltd bought a new position in Etsy during the 4th quarter valued at about $29,000. Institutional & Family Asset Management LLC grew its holdings in Etsy by 125.7% during the 1st quarter. Institutional & Family Asset Management LLC now owns 246 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Finally, Tcwp LLC bought a new position in Etsy during the 1st quarter valued at about $34,000. 98.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ETSY shares. Evercore ISI cut their price target on shares of Etsy from $130.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Guggenheim upped their price target on shares of Etsy from $101.00 to $105.00 in a report on Thursday, July 28th. JMP Securities restated a “mkt outperform” rating and issued a $125.00 target price on shares of Etsy in a research note on Wednesday, June 1st. Morgan Stanley dropped their target price on shares of Etsy from $113.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Finally, 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 research note on Friday, June 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of “Moderate Buy” and an average price target of $129.35.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $105.86, for a total value of $2,207,181.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares of the company’s stock, valued at $10,872,563.02. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Etsy news, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $105.86, for a total value of $2,207,181.00. Following the completion of the transaction, the chief executive officer now owns 102,707 shares of the company’s stock, valued at $10,872,563.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Ryan M. Scott sold 712 shares of the firm’s 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 quarter, insiders sold 135,170 shares of company stock valued at $13,166,674. Insiders own 3.10% of the company’s stock.

Etsy Trading Up 3.3 %

NASDAQ:ETSY opened at $114.08 on Tuesday. Etsy, Inc. has a 52 week low of $67.01 and a 52 week high of $307.75. The firm has a 50 day moving average of $102.21 and a 200 day moving average of $103.71. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 4.10. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 5.15 and a beta of 1.86.

Etsy (NASDAQ:ETSYGet Rating) last posted its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $585.20 million during the quarter, compared to analysts’ expectations of $556.85 million. Etsy had a net margin of 17.01% and a return on equity of 67.88%. Etsy’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.18 earnings per share for the current fiscal year.

About Etsy

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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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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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