Allegiance Financial Group Advisory Services LLC Acquires Shares of 5,057 Etsy, Inc. (NASDAQ:ETSY)

Allegiance Financial Group Advisory Services 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 Securities and Exchange Commission (SEC). The institutional investor purchased 5,057 shares of the specialty retailer's stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its position in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Etsy in the fourth quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy in the fourth quarter worth approximately $34,000. Allworth Financial LP increased its position in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 248 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Etsy in the fourth quarter worth approximately $37,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Performance

ETSY stock traded up $1.67 on Friday, reaching $59.64. The company's stock had a trading volume of 3,897,849 shares, compared to its average volume of 4,350,086. The business has a fifty day simple moving average of $54.03 and a two-hundred day simple moving average of $50.91. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.18. The firm has a market cap of $6.22 billion, a PE ratio of 42.60, a PEG ratio of 3.19 and a beta of 1.74.

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

Analyst Ratings Changes

ETSY has been the topic of a number of recent research reports. Bank of America reduced their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI reduced their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citizens Jmp upgraded shares of Etsy to a "hold" rating in a research report on Thursday, July 10th. Piper Sandler reduced their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Loop Capital reduced their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $49.92.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares of the company's stock, valued at approximately $1,781,318.88. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Richard Edward Colburn III sold 2,350 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the transaction, the chief technology officer directly owned 2,896 shares of the company's stock, valued at $136,140.96. This represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock valued at $11,156,039 over the last quarter. 2.80% of the stock is owned by company 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.