Concorde Asset Management LLC Invests $1.26 Million in Etsy Inc (NASDAQ:ETSY)

Concorde Asset Management LLC bought a new position in Etsy Inc (NASDAQ:ETSY) during the 3rd quarter, Holdings Channel.com reports. The firm bought 10,336 shares of the specialty retailer’s stock, valued at approximately $1,257,000.

Several other institutional investors have also recently modified their holdings of ETSY. Baird Financial Group Inc. grew its holdings in shares of Etsy by 8,694.3% in the second quarter. Baird Financial Group Inc. now owns 986,196 shares of the specialty retailer’s stock worth $43,689,000 after purchasing an additional 974,982 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Etsy by 77.8% in the second quarter. Two Sigma Advisers LP now owns 2,111,700 shares of the specialty retailer’s stock worth $224,326,000 after purchasing an additional 924,200 shares during the last quarter. Softbank Group Corp bought a new position in shares of Etsy in the second quarter worth approximately $80,901,000. Invesco Ltd. grew its holdings in shares of Etsy by 111.6% in the first quarter. Invesco Ltd. now owns 1,371,140 shares of the specialty retailer’s stock worth $52,706,000 after purchasing an additional 723,229 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Etsy by 111.2% in the second quarter. Nuveen Asset Management LLC now owns 1,000,941 shares of the specialty retailer’s stock worth $106,330,000 after purchasing an additional 526,972 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Several research analysts have recently issued reports on ETSY shares. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Etsy in a report on Wednesday, October 7th. Loop Capital raised their price target on Etsy from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Investment Research lowered Etsy from a “strong-buy” rating to a “hold” rating and set a $154.00 price target for the company. in a research note on Monday, October 12th. Oppenheimer raised their price target on Etsy from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Finally, Truist Financial raised their price target on Etsy from $112.00 to $162.00 in a research note on Thursday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $134.18.

In related news, Director Margaret Mary Smyth sold 735 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.81, for a total value of $100,555.35. Following the transaction, the director now directly owns 10,372 shares of the company’s stock, valued at approximately $1,418,993.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Ryan M. Scott sold 842 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $135.31, for a total value of $113,931.02. Following the completion of the transaction, the chief marketing officer now directly owns 3,601 shares in the company, valued at $487,251.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 341,752 shares of company stock worth $43,305,730. 3.80% of the stock is owned by insiders.

NASDAQ ETSY traded up $1.54 during trading hours on Monday, hitting $139.39. The company’s stock had a trading volume of 63,335 shares, compared to its average volume of 3,787,631. Etsy Inc has a 12 month low of $29.95 and a 12 month high of $154.88. The company’s 50 day simple moving average is $126.42 and its two-hundred day simple moving average is $101.84. The company has a market cap of $16.45 billion, a P/E ratio of 113.64, a price-to-earnings-growth ratio of 2.57 and a beta of 1.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.27 and a quick ratio of 4.27.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, August 5th. The specialty retailer reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.36. Etsy had a return on equity of 35.91% and a net margin of 13.78%. The business had revenue of $428.74 million during the quarter, compared to the consensus estimate of $334.37 million. As a group, research analysts predict that Etsy Inc will post 2.02 earnings per share for the current fiscal year.

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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