Cooper Financial Group Sells 13,481 Shares of Etsy, Inc. $ETSY

Key Points

• Cooper Financial Group has reduced its holdings in Etsy, Inc. by 71.1%, selling 13,481 shares and leaving them with 5,481 shares valued at approximately $275,000.
• The latest quarterly earnings report showed Etsy missed EPS estimates by ($0.29), posting $0.25 EPS instead of the anticipated $0.54, but the revenue increased by 3.8% year-over-year.
• Insider selling has been significant, with directors selling a combined 16,864 shares recently, indicating a decrease in their ownership stakes by as much as 42.01% for some individuals.

Cooper Financial Group lessened its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 71.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,481 shares of the specialty retailer's stock after selling 13,481 shares during the period. Cooper Financial Group's holdings in Etsy were worth $275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock valued at $28,000 after acquiring an additional 192 shares during the period. SVB Wealth LLC bought a new stake in shares of Etsy during the 1st quarter worth about $36,000. Allworth Financial LP boosted its holdings in shares of Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after buying an additional 248 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Etsy by 842.2% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock worth $37,000 after buying an additional 699 shares during the period. Finally, Olde Wealth Management LLC bought a new stake in shares of Etsy during the 1st quarter worth about $70,000. Institutional investors own 99.53% of the company's stock.

Etsy Price Performance

ETSY opened at $72.54 on Friday. The company's 50 day moving average price is $60.87 and its two-hundred day moving average price is $54.12. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $75.77. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 4.49 and a beta of 1.85.

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

Insider Buying and Selling

In other news, Director Charles Andrew Ballard sold 2,400 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the sale, the director directly owned 5,796 shares of the company's stock, valued at approximately $361,786.32. This represents a 29.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 directly owned 19,964 shares in the company, valued at approximately $1,254,138.48. This represents a 42.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 513,316 shares of company stock worth $33,365,669. Corporate insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ETSY. Citizens Jmp raised shares of Etsy to a "hold" rating in a report on Thursday, July 10th. Morgan Stanley set a $54.00 target price on shares of Etsy in a report on Monday. Cantor Fitzgerald lifted their target price on shares of Etsy from $52.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. UBS Group reaffirmed a "neutral" rating and set a $67.00 target price on shares of Etsy in a report on Thursday, July 31st. Finally, Truist Financial lifted their price objective on shares of Etsy from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $58.69.

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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