HighTower Advisors LLC Has $231,000 Holdings in Etsy, Inc. $ETSY

HighTower Advisors LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,889 shares of the specialty retailer’s stock after buying an additional 764 shares during the period. HighTower Advisors LLC’s holdings in Etsy were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its holdings in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 292 shares during the period. Allworth Financial LP raised its stake in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after buying an additional 248 shares during the last quarter. Olde Wealth Management LLC acquired a new position in shares of Etsy during the first quarter valued at about $70,000. GAMMA Investing LLC raised its holdings in shares of Etsy by 39.4% during the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer’s stock valued at $91,000 after purchasing an additional 545 shares during the period. Finally, Archer Investment Corp bought a new stake in shares of Etsy during the first quarter worth about $101,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETSY. Wells Fargo & Company upped their price objective on shares of Etsy from $41.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Truist Financial increased their target price on shares of Etsy from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Citizens Jmp raised shares of Etsy to a “hold” rating in a report on Thursday, July 10th. Raymond James Financial increased their target price on shares of Etsy from $50.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Barclays restated a “positive” rating and set a $60.00 price objective (up previously from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $57.80.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $51.97 on Thursday. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57. The stock has a market cap of $5.15 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 3.38 and a beta of 1.77. The firm has a 50-day moving average of $58.38 and a 200 day moving average of $52.35.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). The firm had revenue of $672.66 million during the quarter, compared to analysts’ expectations of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In related news, Director Charles Andrew Ballard sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total transaction of $149,808.00. Following the completion of the sale, the director directly owned 5,796 shares in the company, valued at approximately $361,786.32. The trade was a 29.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marla J. Blow sold 450 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $67.46, for a total transaction of $30,357.00. Following the completion of the sale, the director directly owned 9,491 shares of the company’s stock, valued at approximately $640,262.86. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,482 shares of company stock valued at $15,393,191 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Etsy Company Profile

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.