Steward Partners Investment Advisory LLC trimmed its position in shares of Etsy Inc (NASDAQ:ETSY) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the specialty retailer’s stock after selling 152 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Etsy were worth $245,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hanson McClain Inc. acquired a new stake in Etsy in the 2nd quarter valued at $31,000. NJ State Employees Deferred Compensation Plan increased its stake in shares of Etsy by 50.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 6,000 shares of the specialty retailer’s stock worth $368,000 after purchasing an additional 2,000 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Etsy during the 2nd quarter worth about $80,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of Etsy by 262.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 19,949 shares of the specialty retailer’s stock worth $1,224,000 after purchasing an additional 14,444 shares during the last quarter. Finally, Harvey Capital Management Inc. acquired a new position in shares of Etsy during the 2nd quarter worth about $840,000. 95.15% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on ETSY. Wedbush set a $64.00 price objective on shares of Etsy and gave the stock a “hold” rating in a research note on Friday, August 2nd. DA Davidson restated a “buy” rating on shares of Etsy in a research note on Monday, August 5th. KeyCorp set a $90.00 price objective on shares of Etsy and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC began coverage on shares of Etsy in a research note on Monday, July 1st. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Canaccord Genuity set a $85.00 price objective on shares of Etsy and gave the stock a “buy” rating in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.13.
Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $181.10 million during the quarter, compared to the consensus estimate of $183.28 million. Etsy had a net margin of 15.83% and a return on equity of 26.77%. Etsy’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts anticipate that Etsy Inc will post 0.78 earnings per share for the current fiscal year.
In related news, SVP Goyal Kruti Patel sold 4,505 shares of Etsy stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total transaction of $278,409.00. Following the completion of the sale, the senior vice president now owns 16,389 shares of the company’s stock, valued at approximately $1,012,840.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Michael T. Fisher sold 5,209 shares of Etsy stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $61.31, for a total transaction of $319,363.79. Following the sale, the chief technology officer now directly owns 32,435 shares of the company’s stock, valued at approximately $1,988,589.85. The disclosure for this sale can be found here. Insiders have sold a total of 33,572 shares of company stock valued at $2,046,791 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Etsy Company 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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