Vanguard Personalized Indexing Management LLC Takes Position in Etsy, Inc. $ETSY

Vanguard Personalized Indexing Management LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,226 shares of the specialty retailer’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. Blue Trust Inc. raised its position in shares of Etsy by 18.7% in the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 181 shares in the last quarter. Signaturefd LLC raised its position in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 192 shares in the last quarter. Allworth Financial LP raised its position in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 248 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Etsy by 27.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,299 shares of the specialty retailer’s stock valued at $65,000 after buying an additional 280 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Etsy by 10.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,343 shares of the specialty retailer’s stock valued at $205,000 after buying an additional 412 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, Director M Michele Burns sold 14,464 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 150,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $72.50, for a total transaction of $10,875,000.00. Following the sale, the chief executive officer owned 62,674 shares of the company’s stock, valued at approximately $4,543,865. This trade represents a 70.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 402,667 shares of company stock valued at $26,362,857. Insiders own 2.80% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $73.79 on Friday. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $76.51. The firm has a 50 day moving average price of $63.99 and a two-hundred day moving average price of $56.93. The stock has a market cap of $7.31 billion, a P/E ratio of 59.51, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last announced its quarterly 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). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. During the same quarter last year, the company posted $0.41 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the subject of several analyst reports. Canaccord Genuity Group set a $76.00 target price on shares of Etsy in a research report on Wednesday, July 30th. Morgan Stanley boosted their target price on shares of Etsy from $54.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday. Stifel Nicolaus upped their price objective on shares of Etsy from $45.00 to $66.00 and gave the stock a “hold” rating in a research report on Tuesday, July 29th. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Etsy in a research report on Thursday, September 18th. Finally, Zacks Research upgraded shares of Etsy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus target price of $62.00.

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.