EP Wealth Advisors LLC Acquires Shares of 5,866 Etsy, Inc. $ETSY

EP Wealth Advisors LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,866 shares of the specialty retailer's stock, valued at approximately $277,000.

Other large investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new position in Etsy in the 1st quarter valued at approximately $922,000. Graham Capital Management L.P. acquired a new position in Etsy in the 1st quarter valued at approximately $1,038,000. Alamea Verwaltungs GmbH acquired a new position in Etsy in the 1st quarter valued at approximately $340,000. Quarry LP increased its stake in Etsy by 74.8% in the 1st quarter. Quarry LP now owns 2,279 shares of the specialty retailer's stock valued at $108,000 after buying an additional 975 shares during the period. Finally, DRW Securities LLC increased its stake in Etsy by 299.4% in the 1st quarter. DRW Securities LLC now owns 21,189 shares of the specialty retailer's stock valued at $1,000,000 after buying an additional 15,884 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the topic of several research reports. UBS Group reiterated a "neutral" rating and issued a $67.00 price objective on shares of Etsy in a research note on Thursday, July 31st. Sanford C. Bernstein upped their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Arete Research upgraded shares of Etsy from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Bank of America increased their price target on shares of Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group set a $76.00 price target on shares of Etsy in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $57.80.

Etsy Stock Performance

Shares of ETSY stock traded down $0.65 during mid-day trading on Friday, reaching $58.94. The company's stock had a trading volume of 4,196,095 shares, compared to its average volume of 5,528,143. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57. The company has a market cap of $5.84 billion, a P/E ratio of 47.53, a PEG ratio of 3.80 and a beta of 1.77. The firm's 50-day moving average is $59.02 and its two-hundred day moving average is $52.51.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data 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). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Melissa Reiff sold 6,909 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $58.89, for a total transaction of $406,871.01. Following the completion of the sale, the director owned 16,424 shares in the company, valued at $967,209.36. This trade represents a 29.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 140,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $65.00, for a total transaction of $9,100,000.00. Following the sale, the chief executive officer owned 62,674 shares of the company's stock, valued at $4,073,810. This trade represents a 69.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 316,482 shares of company stock worth $19,130,691. Insiders own 2.80% of the company's stock.

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.