DRW Securities LLC Has $1 Million Stake in Etsy, Inc. $ETSY

Key Points

• DRW Securities LLC significantly increased its holdings in Etsy by 299.4%, acquiring an additional 15,884 shares, bringing its total to 21,189 shares valued at approximately $1 million.
• Etsy reported earnings of $0.25 per share for the last quarter, which was below the consensus estimate of $0.54, despite a 3.8% year-over-year increase in revenue.
• A total of 99.53% of Etsy's stock is owned by institutional investors, indicating strong institutional support for the company.

DRW Securities LLC boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 299.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,189 shares of the specialty retailer's stock after buying an additional 15,884 shares during the quarter. DRW Securities LLC's holdings in Etsy were worth $1,000,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Etsy in the 1st quarter valued at $36,000. Allworth Financial LP lifted its stake in shares of Etsy by 47.6% in the 1st 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 period. Brooklyn Investment Group lifted its stake in shares of Etsy by 842.2% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock valued at $37,000 after purchasing an additional 699 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Etsy in the 1st quarter valued at $70,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Price Performance

ETSY stock traded up $1.85 during trading hours on Friday, reaching $54.06. 5,013,083 shares of the stock were exchanged, compared to its average volume of 4,888,765. The firm's 50-day moving average is $58.41 and its 200-day moving average is $52.32. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 3.31 and a beta of 1.77. 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 released its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) 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 company posted $0.41 EPS. As a group, equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald increased their price target on Etsy from $52.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price target on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citizens Jmp upgraded shares of Etsy to a "hold" rating in a research report on Thursday, July 10th. Arete Research upgraded shares of Etsy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company upped their price objective on shares of Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.80.

Insider Buying and Selling

In related news, Director M Michele Burns sold 14,464 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.82, for a total value 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 trade represents a 42.01% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $59.31, for a total transaction of $708,398.64. Following the completion of the sale, the insider owned 47,529 shares of the company's stock, valued at $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,482 shares of company stock worth $15,393,191 over the last three months. Company insiders own 2.80% of the company's stock.

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.