Ieq Capital LLC Makes New $4.08 Million Investment in Etsy Inc $ETSY

Ieq Capital LLC bought a new stake in Etsy Inc (NYSE:ETSY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 54,201 shares of the company’s stock, valued at approximately $4,083,000.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Etsy in the 2nd quarter valued at approximately $34,000. EFG International AG purchased a new position in shares of Etsy during the 4th quarter valued at $33,000. Danske Bank A S purchased a new position in shares of Etsy during the 3rd quarter valued at $66,000. CoreCap Advisors LLC increased its stake in shares of Etsy by 2,379.1% in the second quarter. CoreCap Advisors LLC now owns 1,066 shares of the company’s stock worth $80,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after acquiring an additional 225 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETSY. Jefferies Financial Group lifted their price target on Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on Etsy in a report on Monday, August 17th. They issued a “neutral” rating and a $89.00 price objective on the stock. Piper Sandler lifted their target price on shares of Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wedbush initiated coverage on shares of Etsy in a research report on Thursday, July 16th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.68.

Etsy Trading Up 7.1%

Shares of Etsy stock opened at $86.82 on Tuesday. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97. The company’s fifty day simple moving average is $80.05 and its 200-day simple moving average is $65.51. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 3.92 and a beta of 1.84.

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

Insiders Place Their Bets

In related news, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the transaction, the director directly owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of Etsy stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the sale, the insider owned 130,694 shares in the company, valued at $9,003,509.66. This represents a 50.76% decrease in their position. 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. Insiders sold 584,967 shares of company stock valued at $43,908,631 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Etsy 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.