4,332 Shares in Etsy, Inc. (NASDAQ:ETSY) Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,332 shares of the specialty retailer's stock, valued at approximately $204,000.

Other large investors also recently added to or reduced their stakes in the company. Allegiance Financial Group Advisory Services LLC bought a new stake in Etsy in the 1st quarter worth approximately $239,000. Archer Investment Corp bought a new stake in Etsy in the 1st quarter worth approximately $101,000. Parcion Private Wealth LLC bought a new stake in Etsy in the 1st quarter worth approximately $236,000. Victory Capital Management Inc. increased its stake in Etsy by 53.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer's stock worth $58,923,000 after acquiring an additional 436,231 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Etsy in the 1st quarter worth approximately $288,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 2.9%

Shares of ETSY stock opened at $59.64 on Monday. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.18. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 42.60, a P/E/G ratio of 3.28 and a beta of 1.74. The stock has a fifty day simple moving average of $54.03 and a two-hundred day simple moving average of $50.88.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The firm had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Etsy's quarterly revenue was up .8% compared to the same quarter last year. Research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday, April 30th. Morgan Stanley cut their target price on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Piper Sandler cut their target price on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Canaccord Genuity Group cut their target price on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Bank of America cut their target price on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.92.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.37, for a total transaction of $1,112,982.42. Following the completion of the sale, the chief executive officer directly owned 62,674 shares in the company, valued at $3,219,563.38. This represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total value of $77,040.00. Following the sale, the insider owned 34,683 shares of the company's stock, valued at $1,781,318.88. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock worth $11,156,039 in the last three months. 2.80% of the stock is owned by insiders.

Etsy 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.

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.