Freestone Grove Partners LP Invests $1.12 Million in Etsy Inc $ETSY

Freestone Grove Partners LP bought a new position in shares of Etsy Inc (NYSE:ETSY) in the second quarter, Holdings Channel reports. The fund bought 14,809 shares of the company’s stock, valued at approximately $1,116,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EFG International AG bought a new stake in Etsy during the fourth quarter worth about $33,000. Global Retirement Partners LLC acquired a new stake in Etsy in the second quarter valued at approximately $34,000. Blue Trust Inc. grew its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Etsy during the third quarter valued at about $66,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after purchasing an additional 225 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In related news, Director Charles Andrew Ballard sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $81.85, for a total transaction of $368,325.00. Following the transaction, the director directly owned 4,239 shares in the company, valued at approximately $346,962.15. The trade was a 51.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles Baker sold 1,564 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $85.88, for a total transaction of $134,316.32. Following the completion of the sale, the chief financial officer directly owned 11,357 shares of the company’s stock, valued at $975,339.16. The trade was a 12.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 589,467 shares of company stock worth $44,276,956. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

ETSY has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Etsy from $61.00 to $76.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. B. Riley Financial lifted their price target on shares of Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays upped their target price on Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Guggenheim increased their target price on Etsy from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.68.

Etsy Trading Up 1.0%

Shares of Etsy stock opened at $83.79 on Friday. The stock has a fifty day simple moving average of $80.83 and a 200 day simple moving average of $66.23. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97. The company has a market capitalization of $7.95 billion, a P/E ratio of 46.81, a price-to-earnings-growth ratio of 4.04 and a beta of 1.84.

Etsy (NYSE:ETSY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company 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 company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, analysts predict that Etsy Inc will post 3.94 EPS for the current year.

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.