17,999 Shares in Etsy, Inc. $ETSY Bought by Friedenthal Financial

Friedenthal Financial acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,999 shares of the specialty retailer's stock, valued at approximately $903,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooper Financial Group grew its stake in shares of Etsy by 31.3% in the first quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer's stock worth $895,000 after purchasing an additional 4,523 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Etsy in the first quarter worth $288,000. Praxis Investment Management Inc. bought a new position in shares of Etsy in the first quarter worth $232,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Etsy in the first quarter worth $922,000. Finally, Hunter Perkins Capital Management LLC bought a new position in shares of Etsy in the first quarter worth $649,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Up 2.1%

Shares of NASDAQ ETSY opened at $71.44 on Wednesday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 57.61, a P/E/G ratio of 4.46 and a beta of 1.85. The business has a fifty day simple moving average of $61.43 and a 200-day simple moving average of $54.74.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). The company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Sanford C. Bernstein increased their price target on Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Wells Fargo & Company upped their price objective on Etsy from $57.00 to $58.00 and gave the company an "underweight" rating in a report on Tuesday. Raymond James Financial upped their price objective on Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Arete Research upgraded Etsy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Etsy in a report on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.73.

Insider Activity at Etsy

In other Etsy news, Director M Michele Burns sold 14,464 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the transaction, the director directly owned 19,964 shares of the company's stock, valued at $1,254,138.48. This represents a 42.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 150,000 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $72.50, for a total value of $10,875,000.00. Following the completion of the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $4,543,865. The trade was a 70.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 542,667 shares of company stock valued at $35,462,857. Company insiders own 2.80% of the company's stock.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.

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