Charles Schwab Investment Management Inc. Has $55.90 Million Position in Etsy, Inc. $ETSY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Etsy, Inc. by 4.8% to 1,184,851 shares, valued at approximately $55.9 million.
• In the latest earnings report, Etsy posted $0.25 EPS, missing estimates of $0.54, while quarterly revenue rose by 3.8% year-over-year to $672.66 million.
• Insiders have sold a total of 364,168 shares of Etsy stock in the past 90 days, with the majority of trading resulting in significant decreases in their positions.

Charles Schwab Investment Management Inc. lifted its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,851 shares of the specialty retailer's stock after purchasing an additional 53,831 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.14% of Etsy worth $55,901,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETSY. True Wealth Design LLC raised its stake 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 valued at $29,000 after purchasing an additional 292 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Etsy during the fourth quarter worth $34,000. Allworth Financial LP raised its stake in Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 248 shares in the last quarter. Johnson Financial Group Inc. raised its stake in Etsy by 862.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,270 shares of the specialty retailer's stock worth $70,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new position in Etsy during the first quarter worth $70,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC increased their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. B. Riley dropped their price objective on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group set a $76.00 price objective on Etsy in a research note on Wednesday, July 30th. Finally, Citigroup dropped their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus price target of $57.20.

Etsy Trading Up 1.4%

Etsy stock traded up $0.8650 during mid-day trading on Wednesday, hitting $64.3550. The stock had a trading volume of 579,080 shares, compared to its average volume of 4,823,577. The stock has a 50-day simple moving average of $58.15 and a two-hundred day simple moving average of $52.19. The stock has a market capitalization of $6.38 billion, a PE ratio of 51.80, a P/E/G ratio of 4.12 and a beta of 1.73. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly 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 the consensus estimate of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the transaction, the insider owned 34,683 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Goyal Kruti Patel sold 11,944 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the sale, the insider directly owned 47,529 shares in the company, valued at approximately $2,818,944.99. This represents a 20.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 364,618 shares of company stock valued at $21,975,392. 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.