Ontario Teachers Pension Plan Board grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Free Report) by 46.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,332 shares of the specialty retailer’s stock after purchasing an additional 3,939 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Etsy were worth $1,373,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new position in Etsy during the fourth quarter worth about $28,000. OLD Mission Capital LLC acquired a new position in shares of Etsy during the 4th quarter valued at about $25,000. CoreCap Advisors LLC purchased a new position in shares of Etsy during the 4th quarter worth about $28,000. Spire Wealth Management boosted its position in shares of Etsy by 184.1% in the first quarter. Spire Wealth Management now owns 233 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in Etsy by 129.5% during the first quarter. Valley National Advisers Inc. now owns 257 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 92.98% of the company’s stock.
Insiders Place Their Bets
In other news, insider Nicholas Daniel sold 1,760 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the completion of the sale, the insider now directly owns 8,704 shares in the company, valued at approximately $884,761.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $95.57, for a total transaction of $1,992,634.50. Following the completion of the transaction, the chief executive officer now directly owns 14,674 shares of the company’s stock, valued at $1,402,394.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,760 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the completion of the sale, the insider now directly owns 8,704 shares in the company, valued at approximately $884,761.60. The disclosure for this sale can be found here. Insiders have sold a total of 85,998 shares of company stock valued at $7,859,120 in the last quarter. Insiders own 2.60% of the company’s stock.
Etsy Trading Up 3.3 %
ETSY stock opened at $66.68 on Friday. The company has a market capitalization of $8.20 billion, a P/E ratio of -11.36, a PEG ratio of 3.51 and a beta of 2.03. The firm has a 50 day simple moving average of $81.71 and a 200-day simple moving average of $92.53. Etsy, Inc. has a twelve month low of $63.51 and a twelve month high of $149.91.
Etsy (NASDAQ:ETSY – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.42. Etsy had a negative net margin of 26.84% and a negative return on equity of 69.10%. The business had revenue of $628.88 million for the quarter, compared to analyst estimates of $621.87 million. On average, research analysts predict that Etsy, Inc. will post 2.73 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of Etsy from $140.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Bank of America dropped their price target on Etsy from $123.00 to $110.00 in a research note on Friday, July 28th. Loop Capital reduced their price objective on Etsy from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Monday. DA Davidson dropped their target price on shares of Etsy from $166.00 to $157.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Finally, Oppenheimer decreased their price objective on shares of Etsy from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $114.54.
Read Our Latest Stock Analysis on ETSY
Etsy Company 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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