Summit Investment Advisors Inc. Grows Position in Etsy, Inc. $ETSY

Summit Investment Advisors Inc. lifted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,533 shares of the specialty retailer’s stock after buying an additional 1,223 shares during the period. Summit Investment Advisors Inc.’s holdings in Etsy were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 192 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Etsy in the first quarter valued at approximately $36,000. Allworth Financial LP lifted its position in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after buying an additional 248 shares in the last quarter. Brooklyn Investment Group lifted its position in Etsy by 842.2% during the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock worth $37,000 after buying an additional 699 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after buying an additional 181 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Performance

Etsy stock opened at $63.72 on Wednesday. The company’s 50 day simple moving average is $65.20 and its 200-day simple moving average is $58.82. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 51.39, a price-to-earnings-growth ratio of 10.65 and a beta of 1.87.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same quarter last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings raised Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. B. Riley restated a “buy” rating on shares of Etsy in a research report on Thursday, October 30th. Needham & Company LLC boosted their target price on shares of Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Etsy in a research note on Thursday, September 18th. Finally, Morgan Stanley lifted their price target on shares of Etsy from $61.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.24.

Insider Transactions at Etsy

In other Etsy news, insider Richard Edward Colburn III sold 3,200 shares of Etsy stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the transaction, the insider directly owned 4,387 shares of the company’s stock, valued at $253,568.60. The trade was a 42.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Merilee Buckley sold 11,827 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $61.47, for a total transaction of $727,005.69. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 394,619 shares of company stock worth $25,966,574. 2.80% of the stock is owned by corporate insiders.

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.