Sumitomo Mitsui Trust Group Inc. Increases Holdings in Etsy, Inc. $ETSY

Sumitomo Mitsui Trust Group Inc. increased its position in Etsy, Inc. (NASDAQ:ETSY) by 155.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,680 shares of the specialty retailer’s stock after purchasing an additional 8,940 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Etsy were worth $736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cooper Financial Group grew its position in shares of 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Etsy in the first quarter worth about $288,000. Focus Partners Advisor Solutions LLC purchased a new stake in Etsy in the first quarter worth about $922,000. OMNI 360 Wealth Inc. bought a new position in Etsy during the 1st quarter worth about $246,000. Finally, Charles Schwab Investment Management Inc. increased its position in Etsy by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer’s stock valued at $55,901,000 after purchasing an additional 53,831 shares during the period. 99.53% of the stock is owned by institutional investors.

Insider Transactions at Etsy

In related news, Director M Michele Burns sold 14,464 shares of the firm’s stock in a transaction 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 owned 19,964 shares in the company, valued at $1,254,138.48. This trade represents a 42.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Merilee Buckley sold 5,817 shares of Etsy stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.83, for a total value of $342,214.11. The SEC filing for this sale provides additional information. Insiders sold 372,592 shares of company stock worth $24,594,707 over the last 90 days. Insiders own 2.80% of the company’s stock.

Etsy Stock Down 0.1%

Shares of Etsy stock opened at $61.89 on Friday. The company has a 50 day moving average price of $64.40 and a 200 day moving average price of $57.88. The firm has a market capitalization of $6.13 billion, a P/E ratio of 49.91, a PEG ratio of 10.65 and a beta of 1.85. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million for the quarter, compared to analyst estimates of $655.83 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citizens Jmp raised shares of Etsy to a “hold” rating in a research report on Thursday, July 10th. Arete Research raised shares of Etsy from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 7th. Jefferies Financial Group increased their target price on Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Canaccord Genuity Group boosted their price target on Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI downgraded Etsy from a “strong-buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.24.

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.