J. Goldman & Co LP Invests $12.98 Million in Etsy Inc $ETSY

J. Goldman & Co LP purchased a new stake in Etsy Inc (NYSE:ETSY) in the 2nd quarter, Holdings Channel reports. The fund purchased 172,266 shares of the company’s stock, valued at approximately $12,977,000.

Several other hedge funds have also modified their holdings of ETSY. EFG International AG acquired a new stake in Etsy in the fourth quarter valued at $33,000. Global Retirement Partners LLC acquired a new position in shares of Etsy during the 2nd quarter worth $34,000. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. Danske Bank A S purchased a new position in shares of Etsy in the 3rd quarter valued at about $66,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ETSY. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Thursday, May 21st. Morgan Stanley upgraded shares of Etsy from an “underweight” rating to an “outperform” rating in a research report on Thursday, August 20th. President Capital raised Etsy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $91.00 in a research note on Thursday, June 25th. Canaccord Genuity Group set a $92.00 price target on Etsy in a report on Thursday, August 6th. Finally, Arete Research set a $76.00 price objective on Etsy and gave the stock a “buy” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.68.

Etsy Trading Down 2.8%

NYSE:ETSY opened at $84.59 on Wednesday. The company has a market capitalization of $8.03 billion, a P/E ratio of 47.26, a price-to-earnings-growth ratio of 4.21 and a beta of 1.84. The firm has a 50-day moving average price of $80.28 and a two-hundred day moving average price of $65.74. Etsy Inc has a twelve month low of $44.00 and a twelve month high of $87.97.

Etsy (NYSE:ETSY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to analysts’ expectations of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, equities research analysts predict that Etsy Inc will post 3.94 earnings per share for the current year.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the sale, the director directly owned 421,329 shares in the company, valued at approximately $35,062,999.38. The trade was a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 584,967 shares of company stock valued at $43,908,631 over the last 90 days. Insiders own 2.50% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.