7,177 Shares in Etsy, Inc. $ETSY Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association has acquired 7,177 shares of Etsy, valued at approximately $335,000, marking its entry into the company's stock as reported in a recent 13F filing.
• Etsy reported a net margin of 5.78% with quarterly revenue of $672.66 million, exceeding analysts' expectations, although it missed the earnings per share estimate by 29 cents.
• Multiple analysts have raised their price targets on Etsy, with Guggenheim increasing theirs from $50.00 to $70.00, reflecting mixed to positive sentiments about the stock's performance.

United Services Automobile Association purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,177 shares of the specialty retailer's stock, valued at approximately $335,000.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares in the last quarter. Allworth Financial LP increased its position in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 248 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Etsy in the first quarter valued at $36,000. Brooklyn Investment Group raised its stake in shares of Etsy by 842.2% in the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 699 shares during the period. Finally, Olde Wealth Management LLC purchased a new stake in shares of Etsy in the first quarter valued at $70,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETSY shares. UBS Group reissued a "neutral" rating and issued a $67.00 target price on shares of Etsy in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Arete upgraded Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price target for the company in a report on Thursday, August 7th. Canaccord Genuity Group set a $76.00 price target on Etsy in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $57.80.

Insider Buying and Selling at Etsy

In other news, Director M Michele Burns sold 14,464 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the completion of the sale, the director owned 19,964 shares of the company's stock, valued at $1,254,138.48. This represents a 42.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 65,000 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00. Following the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $3,603,755. The trade was a 50.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,482 shares of company stock valued at $19,130,691. 2.80% of the stock is owned by company insiders.

Etsy Trading Down 1.1%

NASDAQ ETSY traded down $0.65 on Friday, hitting $58.94. 4,196,095 shares of the company's stock traded hands, compared to its average volume of 5,486,503. The firm's 50-day moving average price is $59.02 and its two-hundred day moving average price is $52.52. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57. The firm has a market capitalization of $5.84 billion, a PE ratio of 47.53, a P/E/G ratio of 3.75 and a beta of 1.77.

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

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.