Pier 88 Investment Partners LLC Has $682,000 Position in Etsy Inc (NASDAQ:ETSY)

Pier 88 Investment Partners LLC cut its position in Etsy Inc (NASDAQ:ETSY) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,116 shares of the specialty retailer’s stock after selling 720 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Etsy were worth $682,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Etsy by 57.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 240,246 shares of the specialty retailer’s stock valued at $11,429,000 after acquiring an additional 87,209 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Etsy by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock valued at $71,275,000 after buying an additional 104,042 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Etsy during the 1st quarter valued at $246,000. Foundry Partners LLC bought a new stake in shares of Etsy during the 1st quarter valued at $1,554,000. Finally, First Quadrant L P CA boosted its holdings in shares of Etsy by 82.3% during the 1st quarter. First Quadrant L P CA now owns 1,730 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 781 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Shares of Etsy stock traded up $0.71 on Tuesday, reaching $53.12. The company’s stock had a trading volume of 1,383,280 shares, compared to its average volume of 2,900,244. The company has a market capitalization of $6.31 billion, a P/E ratio of 87.08, a PEG ratio of 3.29 and a beta of 0.92. Etsy Inc has a 52-week low of $38.02 and a 52-week high of $73.35. The stock has a 50-day moving average price of $62.22 and a 200-day moving average price of $63.70. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.77.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. Etsy had a return on equity of 26.77% and a net margin of 15.83%. The business had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $183.28 million. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 36.8% compared to the same quarter last year. Sell-side analysts forecast that Etsy Inc will post 0.78 earnings per share for the current fiscal year.

In other Etsy news, SVP Goyal Kruti Patel sold 4,505 shares of Etsy stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $61.80, for a total value of $278,409.00. Following the sale, the senior vice president now directly owns 16,389 shares in the company, valued at approximately $1,012,840.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Michael T. Fisher sold 5,209 shares of Etsy stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $61.31, for a total transaction of $319,363.79. Following the completion of the sale, the chief technology officer now owns 32,435 shares in the company, valued at $1,988,589.85. The disclosure for this sale can be found here. Insiders sold a total of 33,572 shares of company stock worth $2,046,791 over the last quarter. Company insiders own 3.00% of the company’s stock.

ETSY has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Etsy from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday, August 2nd. ValuEngine cut shares of Etsy from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub cut shares of Etsy from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Zacks Investment Research cut shares of Etsy from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Roth Capital 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 Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Etsy presently has an average rating of “Hold” and an average price target of $73.13.

About Etsy

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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