Etsy, Inc. $ETSY Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its holdings in Etsy by 230.3% in the first quarter, acquiring a total of 259,674 shares valued at approximately $12.25 million.
• Wall Street analysts have a consensus rating of "Hold" on Etsy, with price targets ranging from $54.00 to $76.00, showcasing a generally positive outlook for the stock.
• Etsy's stock recently declined by 3.2%, with a current trading price around $54.43 and potential concerns following a quarterly earnings miss where EPS was $0.25 compared to the expected $0.54.

Ieq Capital LLC lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 230.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,674 shares of the specialty retailer's stock after purchasing an additional 181,062 shares during the period. Ieq Capital LLC owned about 0.25% of Etsy worth $12,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its stake in shares of Etsy by 112.7% in the 4th 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. Allworth Financial LP increased 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 in the last quarter. SVB Wealth LLC purchased a new position in shares of Etsy in the 1st quarter valued at about $36,000. Brooklyn Investment Group increased its stake in 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 in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Etsy during the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ETSY shares. Arete upgraded Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price objective for the company in a research note on Thursday, August 7th. Needham & Company LLC boosted 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. Canaccord Genuity Group set a $76.00 price objective on Etsy in a research note on Wednesday, July 30th. Guggenheim upped their price target on Etsy from $50.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, UBS Group restated a "neutral" rating and issued a $67.00 price target on shares of Etsy in a research report on Thursday, July 31st. Eight 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $57.80.

Insider Transactions at Etsy

In related news, insider Goyal Kruti Patel sold 11,944 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the transaction, the insider owned 47,529 shares of the company's stock, valued at $2,818,944.99. This represents a 20.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Melissa Reiff sold 6,909 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $58.89, for a total value of $406,871.01. Following the completion of the transaction, the director directly owned 16,424 shares in the company, valued at $967,209.36. This trade represents a 29.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 381,482 shares of company stock valued at $23,033,829 over the last ninety days. Company insiders own 2.80% of the company's stock.

Etsy Stock Down 3.2%

NASDAQ:ETSY opened at $54.43 on Thursday. The stock's fifty day moving average is $58.54 and its two-hundred day moving average is $52.42. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $70.57. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 3.58 and a beta of 1.73.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 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 analyst estimates of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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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