Etsy, Inc. $ETSY Shares Sold by JBGlobal.com LLC

Key Points

• JBGlobal.com LLC has significantly reduced its holdings in Etsy, Inc. by 51.2% during the second quarter, retaining 6,260 shares valued at approximately $314,000.
• Wall Street analysts have raised their price targets for Etsy, with Guggenheim raising it from $50 to $70 and Bank of America from $67 to $71, reflecting growing confidence in the company's prospects.
• CEO Josh Silverman sold 65,000 shares at an average price of $57.50, marking a 50.91% decrease in his ownership stake, as insiders sold a total of 316,482 shares valued at $19.1 million over the last three months.

JBGlobal.com LLC lowered its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 51.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,260 shares of the specialty retailer's stock after selling 6,577 shares during the quarter. Etsy makes up approximately 0.3% of JBGlobal.com LLC's holdings, making the stock its 23rd biggest holding. JBGlobal.com LLC's holdings in Etsy were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ETSY. True Wealth Design LLC raised its stake in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares during the period. SVB Wealth LLC purchased a new position in shares of Etsy in the 1st quarter valued at $36,000. Allworth Financial LP raised 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 acquiring an additional 248 shares during the period. Brooklyn Investment Group raised 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 acquiring an additional 699 shares during the period. Finally, Olde Wealth Management LLC purchased 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.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several analyst reports. Guggenheim lifted their price target on shares of Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Bank of America lifted their price target on shares of Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on shares of Etsy from $50.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $57.80.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 65,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.50, for a total value of $3,737,500.00. Following the completion of the sale, the chief executive officer directly owned 62,674 shares of the company's stock, valued at $3,603,755. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $51.62, for a total transaction of $77,430.00. Following the completion of the sale, the insider owned 31,683 shares of the company's stock, valued at $1,635,476.46. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 316,482 shares of company stock valued at $19,130,691. 2.80% of the stock is owned by company insiders.

Etsy Price Performance

Etsy stock opened at $58.94 on Friday. The firm's 50 day simple moving average is $59.02 and its 200-day simple moving average is $52.50. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $70.57. The company has a market cap of $5.84 billion, a P/E ratio of 47.53, a price-to-earnings-growth ratio of 3.80 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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 company had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, 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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