39,590 Shares in Etsy, Inc. $ETSY Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 39,590 shares of the specialty retailer’s stock, valued at approximately $1,986,000.

Several other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. increased its holdings in shares of Etsy by 0.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock valued at $1,440,000 after acquiring an additional 172 shares during the period. Blue Trust Inc. grew its position in Etsy by 18.7% during the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 181 shares during the last quarter. Signaturefd LLC grew its position in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. Heron Bay Capital Management raised its holdings in shares of Etsy by 0.8% in the second quarter. Heron Bay Capital Management now owns 26,215 shares of the specialty retailer’s stock valued at $1,315,000 after buying an additional 219 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Etsy by 27.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,299 shares of the specialty retailer’s stock worth $65,000 after buying an additional 280 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ETSY. UBS Group boosted their price target on Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their target price on Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Raymond James Financial restated an “outperform” rating and set a $78.00 price target (down previously from $80.00) on shares of Etsy in a research note on Thursday, October 30th. BNP Paribas Exane began coverage on shares of Etsy in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. Finally, Moffett Nathanson restated a “neutral” rating on shares of Etsy in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.38.

Insider Buying and Selling

In related news, CAO Merilee Buckley sold 11,827 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total value of $727,005.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00. Following the sale, the chief executive officer owned 62,674 shares in the company, valued at approximately $4,543,865. The trade was a 70.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 376,105 shares of company stock valued at $24,882,354 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Etsy Stock Performance

Etsy stock opened at $53.27 on Friday. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51. The business has a fifty day moving average of $63.42 and a two-hundred day moving average of $59.73. The company has a market cap of $5.26 billion, a P/E ratio of 42.96, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76.

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

Etsy 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.