Mitsubishi UFJ Trust & Banking Corp increased its stake in Etsy, Inc. (NASDAQ:ETSY – Free Report) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,878 shares of the specialty retailer’s stock after acquiring an additional 17,951 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Etsy worth $10,006,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Glassman Wealth Services lifted its stake in shares of Etsy by 22.1% in the fourth quarter. Glassman Wealth Services now owns 442 shares of the specialty retailer’s stock worth $53,000 after acquiring an additional 80 shares during the period. Louisiana State Employees Retirement System increased its holdings in Etsy by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the specialty retailer’s stock worth $913,000 after purchasing an additional 100 shares in the last quarter. Empirical Finance LLC increased its holdings in Etsy by 4.4% in the first quarter. Empirical Finance LLC now owns 3,038 shares of the specialty retailer’s stock worth $338,000 after purchasing an additional 128 shares in the last quarter. Park Place Capital Corp increased its holdings in Etsy by 15.2% in the first quarter. Park Place Capital Corp now owns 1,053 shares of the specialty retailer’s stock worth $117,000 after purchasing an additional 139 shares in the last quarter. Finally, New York Life Investment Management LLC increased its holdings in Etsy by 0.7% in the first quarter. New York Life Investment Management LLC now owns 20,671 shares of the specialty retailer’s stock worth $2,301,000 after purchasing an additional 144 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ETSY. Sanford C. Bernstein downgraded Etsy from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $120.00 to $105.00 in a report on Thursday, August 3rd. Oppenheimer decreased their price objective on Etsy from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Truist Financial boosted their price objective on Etsy from $120.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. UBS Group decreased their price objective on Etsy from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, July 19th. Finally, Loop Capital decreased their price objective on Etsy from $105.00 to $100.00 in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.43.
Get Our Latest Stock Report on ETSY
Etsy Price Performance
Shares of NASDAQ ETSY opened at $73.78 on Monday. Etsy, Inc. has a one year low of $72.57 and a one year high of $149.91. The business’s fifty day moving average price is $88.79 and its 200-day moving average price is $100.58. The stock has a market capitalization of $9.08 billion, a PE ratio of -12.57, a P/E/G ratio of 3.72 and a beta of 2.00.
Insider Activity
In other news, CEO Josh Silverman sold 10,425 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $87.33, for a total transaction of $910,415.25. Following the transaction, the chief executive officer now owns 14,674 shares of the company’s stock, valued at approximately $1,281,480.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Nicholas Daniel sold 1,760 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $101.65, for a total transaction of $178,904.00. Following the sale, the insider now owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 10,425 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $87.33, for a total value of $910,415.25. Following the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at approximately $1,281,480.42. The disclosure for this sale can be found here. Insiders have sold 95,823 shares of company stock valued at $8,881,523 in the last 90 days. Insiders own 2.60% of the company’s stock.
Etsy Profile
(Free Report)
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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