State of Alaska Department of Revenue bought a new position in shares of Etsy Inc (NASDAQ:ETSY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,400 shares of the specialty retailer’s stock, valued at approximately $1,209,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BBT Capital Management LLC acquired a new position in Etsy during the second quarter worth about $347,000. Cooper Creek Partners Management LLC acquired a new position in Etsy during the first quarter worth about $5,386,000. Meadow Creek Investment Management LLC acquired a new position in Etsy during the second quarter worth about $94,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Etsy by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,549 shares of the specialty retailer’s stock worth $463,000 after acquiring an additional 779 shares in the last quarter. Finally, Treasurer of the State of North Carolina acquired a new position in Etsy during the second quarter worth about $3,049,000. 92.44% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on ETSY shares. Stifel Nicolaus upgraded Etsy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, August 21st. ValuEngine cut Etsy from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Canaccord Genuity set a $85.00 price target on Etsy and gave the stock a “buy” rating in a report on Friday, August 2nd. BTIG Research upgraded Etsy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, July 25th. Finally, Needham & Company LLC started coverage on Etsy in a report on Monday, July 1st. They set a “buy” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Etsy currently has an average rating of “Buy” and a consensus price target of $72.25.
In related news, CTO Michael T. Fisher sold 5,194 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.00, for a total value of $259,700.00. Following the sale, the chief technology officer now directly owns 17,387 shares in the company, valued at $869,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Fisher sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $55.30, for a total value of $288,002.40. Following the completion of the sale, the insider now owns 22,580 shares in the company, valued at $1,248,674. The disclosure for this sale can be found here. Insiders sold 22,668 shares of company stock worth $1,216,792 over the last quarter. 3.00% of the stock is currently owned by company insiders.
Shares of ETSY stock opened at $59.26 on Friday. The business’s 50 day simple moving average is $54.86 and its 200 day simple moving average is $61.80. Etsy Inc has a one year low of $38.02 and a one year high of $73.35. The stock has a market capitalization of $7.14 billion, a PE ratio of 97.15, a PEG ratio of 3.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.47 and a quick ratio of 4.47.
Etsy (NASDAQ:ETSY) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $183.28 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue was up 36.8% on a year-over-year basis. As a group, research analysts expect that Etsy Inc will post 0.74 earnings per share for the current year.
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.
Further Reading: Discount Rate
Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.