GYL Financial Synergies LLC Buys Shares of 12,472 Etsy Inc (NASDAQ:ETSY)

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GYL Financial Synergies LLC bought a new position in Etsy Inc (NASDAQ:ETSY) during the first quarter, HoldingsChannel.com reports. The fund bought 12,472 shares of the specialty retailer’s stock, valued at approximately $838,000.

A number of other hedge funds have also added to or reduced their stakes in ETSY. First Trust Advisors LP increased its stake in Etsy by 1,054.2% in the first quarter. First Trust Advisors LP now owns 2,426,537 shares of the specialty retailer’s stock worth $163,112,000 after purchasing an additional 2,216,303 shares during the period. Lord Abbett & CO. LLC increased its stake in Etsy by 265.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock worth $113,796,000 after purchasing an additional 1,736,734 shares during the period. Norges Bank purchased a new stake in Etsy in the fourth quarter worth $54,602,000. FMR LLC increased its stake in Etsy by 68.3% in the fourth quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock worth $89,570,000 after purchasing an additional 763,816 shares during the period. Finally, Millennium Management LLC purchased a new stake in Etsy in the fourth quarter worth $34,003,000. Institutional investors and hedge funds own 95.59% of the company’s stock.

NASDAQ ETSY traded down $0.71 during trading on Friday, hitting $69.34. The company’s stock had a trading volume of 5,672 shares, compared to its average volume of 1,792,617. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. The company has a market cap of $8.31 billion, a PE ratio of 113.14, a P/E/G ratio of 4.36 and a beta of 1.03. Etsy Inc has a fifty-two week low of $38.02 and a fifty-two week high of $73.35.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $169.33 million during the quarter, compared to the consensus estimate of $170.72 million. Etsy had a return on equity of 24.24% and a net margin of 14.74%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Etsy Inc will post 0.82 earnings per share for the current fiscal year.

In related news, CTO Michael T. Fisher sold 2,604 shares of Etsy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $69.37, for a total transaction of $180,639.48. Following the completion of the sale, the chief technology officer now owns 30,968 shares of the company’s stock, valued at $2,148,250.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Goyal Kruti Patel sold 3,753 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $69.69, for a total value of $261,546.57. Following the sale, the senior vice president now directly owns 16,389 shares of the company’s stock, valued at approximately $1,142,149.41. The disclosure for this sale can be found here. In the last three months, insiders sold 70,016 shares of company stock valued at $4,774,941. Corporate insiders own 3.00% of the company’s stock.

A number of research firms have weighed in on ETSY. BidaskClub upgraded Etsy from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Royal Bank of Canada restated a “hold” rating and set a $60.00 price target on shares of Etsy in a research note on Wednesday, March 13th. Canaccord Genuity began coverage on Etsy in a research note on Thursday, April 4th. They set a “buy” rating and a $85.00 price target on the stock. Finally, BTIG Research restated a “hold” rating on shares of Etsy in a research note on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Etsy currently has a consensus rating of “Buy” and a consensus target price of $68.87.

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Etsy Profile

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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