CSat Investment Advisory L.P. lifted its position in shares of Etsy Inc (NASDAQ:ETSY) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,358 shares of the specialty retailer’s stock after purchasing an additional 1,300 shares during the period. CSat Investment Advisory L.P.’s holdings in Etsy were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ETSY. First Trust Advisors LP increased its stake in shares of Etsy by 1,054.2% during 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. Jennison Associates LLC bought a new position in shares of Etsy during the first quarter worth approximately $37,664,000. Paloma Partners Management Co increased its stake in shares of Etsy by 2,345.8% during the second quarter. Paloma Partners Management Co now owns 356,547 shares of the specialty retailer’s stock worth $21,882,000 after purchasing an additional 341,969 shares during the period. Invesco Ltd. increased its stake in shares of Etsy by 22.0% during the second quarter. Invesco Ltd. now owns 1,476,169 shares of the specialty retailer’s stock worth $90,593,000 after purchasing an additional 266,462 shares during the period. Finally, Federated Investors Inc. PA increased its stake in shares of Etsy by 167.3% during the first quarter. Federated Investors Inc. PA now owns 341,063 shares of the specialty retailer’s stock worth $22,926,000 after purchasing an additional 213,460 shares during the period. Institutional investors own 92.44% of the company’s stock.
In other news, CTO Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.37, for a total value of $330,030.96. Following the transaction, the chief technology officer now owns 22,580 shares in the company, valued at approximately $1,430,894.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the senior vice president now owns 16,389 shares in the company, valued at approximately $1,012,840.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,572 shares of company stock worth $1,987,881. Corporate insiders own 3.00% of the company’s stock.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. Etsy had a return on equity of 26.77% and a net margin of 15.83%. The firm had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.28 million. During the same quarter last year, the company earned $0.07 EPS. The company’s revenue was up 36.8% on a year-over-year basis. Sell-side analysts anticipate that Etsy Inc will post 0.76 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity set a $85.00 target price on Etsy and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus upgraded Etsy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, August 21st. ValuEngine lowered Etsy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Etsy from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, DA Davidson reiterated a “buy” rating on shares of Etsy in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Etsy presently has a consensus rating of “Buy” and an average price target of $73.80.
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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