Amalgamated Bank Has $1.67 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Amalgamated Bank reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,377 shares of the specialty retailer’s stock after selling 773 shares during the period. Amalgamated Bank’s holdings in Etsy were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Etsy by 1,066.3% in the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer’s stock valued at $454,000 after purchasing an additional 8,797 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after buying an additional 122,126 shares during the period. Brooklyn FI LLC bought a new stake in Etsy during the 4th quarter worth approximately $5,229,000. JBGlobal.com LLC grew its holdings in Etsy by 68.2% during the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer’s stock worth $606,000 after acquiring an additional 5,206 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in Etsy during the 4th quarter worth approximately $606,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Up 2.7%

Shares of ETSY stock opened at $54.40 on Monday. The firm has a market capitalization of $5.67 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.74. The firm has a fifty day simple moving average of $51.81 and a two-hundred day simple moving average of $50.72. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.81.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In related news, CTO Richard Edward Colburn III sold 2,350 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer owned 2,896 shares of the company’s stock, valued at $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares of the company’s stock, valued at approximately $1,781,318.88. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,298 shares of company stock worth $11,156,039. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company set a $41.00 target price on shares of Etsy and gave the stock an “underweight” rating in a report on Monday, June 30th. JPMorgan Chase & Co. boosted their target price on shares of Etsy from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a “hold” rating in a report on Monday, April 14th. Finally, Barclays lowered their price target on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $49.91.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.