Aaron Wealth Advisors LLC Purchases New Holdings in Etsy, Inc. $ETSY

Key Points

• Aaron Wealth Advisors LLC recently purchased a new stake in Etsy, acquiring 5,031 shares valued at approximately $252,000.
• Multiple analysts have recently adjusted their price targets for Etsy, with significant increases from firms like Wells Fargo, Morgan Stanley, and JPMorgan Chase, leading to an average target price of $57.80.
• Insider trading activities included CEO Josh Silverman selling 70,000 shares for around $4.55 million, reflecting a 52.76% decrease in his ownership of the stock.

Aaron Wealth Advisors LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,031 shares of the specialty retailer's stock, valued at approximately $252,000.

Several other large investors have also recently bought and sold shares of ETSY. Allworth Financial LP boosted 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 purchasing an additional 248 shares during the last quarter. SVB Wealth LLC bought a new stake in Etsy in the first quarter valued at approximately $36,000. Brooklyn Investment Group raised its stake in 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 buying an additional 699 shares during the period. Olde Wealth Management LLC bought a new stake in Etsy in the first quarter valued at approximately $70,000. Finally, GAMMA Investing LLC raised its stake in Etsy by 39.4% in the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock valued at $91,000 after buying an additional 545 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ETSY. Guggenheim restated a "buy" rating and issued a $70.00 price objective on shares of Etsy in a research note on Thursday. Wells Fargo & Company upped their price objective on Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on Etsy from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.80.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $51.62, for a total transaction of $77,430.00. Following the sale, the insider owned 31,683 shares of the company's stock, valued at $1,635,476.46. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 70,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00. Following the sale, the chief executive officer directly owned 62,674 shares in the company, valued at $4,073,810. This represents a 52.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 386,482 shares of company stock valued at $23,680,691 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

Etsy Trading Up 0.2%

Shares of NASDAQ ETSY opened at $64.99 on Friday. The firm has a market cap of $6.44 billion, a P/E ratio of 52.41, a price-to-earnings-growth ratio of 4.13 and a beta of 1.77. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57. The business's 50 day moving average is $59.63 and its 200-day moving average is $52.88.

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

About Etsy

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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