Ballentine Partners LLC Purchases Shares of 4,708 Etsy, Inc. $ETSY

Ballentine Partners LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,708 shares of the specialty retailer’s stock, valued at approximately $236,000.

Other large investors have also recently added to or reduced their stakes in the company. Cooper Financial Group increased its position in Etsy by 31.3% during the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock worth $895,000 after buying an additional 4,523 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Etsy during the 1st quarter worth $288,000. JBGlobal.com LLC increased its position 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 buying an additional 5,206 shares during the period. Praxis Investment Management Inc. bought a new position in Etsy during the 1st quarter worth $232,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in Etsy during the 1st quarter worth $922,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 15.8%

Shares of ETSY stock opened at $74.34 on Tuesday. The business’s 50-day moving average price is $60.49 and its 200-day moving average price is $53.74. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $75.77. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 4.09 and a beta of 1.77.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. During the same period in the previous year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America increased their price objective on Etsy from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Barclays restated a “positive” rating and issued a $60.00 price target (up previously from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on Etsy from $40.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Etsy from $41.00 to $57.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Finally, Arete upgraded Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price target on the stock in a research report on Thursday, August 7th. Eight research 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, the company presently has an average rating of “Hold” and an average price target of $57.80.

Insider Activity

In related news, Director Marla J. Blow sold 450 shares of Etsy stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $67.46, for a total value of $30,357.00. Following the transaction, the director directly owned 9,491 shares of the company’s stock, valued at $640,262.86. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the completion of the transaction, the director directly owned 19,964 shares in the company, valued at approximately $1,254,138.48. This represents a 42.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 363,316 shares of company stock valued at $22,490,669. 2.80% of the stock is currently owned by company insiders.

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.