Cooper Financial Group Buys 4,523 Shares of Etsy, Inc. (NASDAQ:ETSY)

Key Points

• Cooper Financial Group increased its stake in Etsy, Inc. by 31.3%, acquiring an additional 4,523 shares, bringing their total to 18,962 shares worth approximately $895,000.
• Several hedge funds have recently modified their positions in Etsy, with Versant Capital Management boosting its holdings by an impressive 1,066.3%.
• Etsy reported quarterly earnings of $0.25 EPS, missing analysts' expectations, while its revenue for the quarter was reported at $672.66 million, surpassing estimates of $645.16 million.

Cooper Financial Group boosted its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 31.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,962 shares of the specialty retailer's stock after buying an additional 4,523 shares during the quarter. Cooper Financial Group's holdings in Etsy were worth $895,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Etsy by 140.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,454 shares of the specialty retailer's stock worth $33,566,000 after purchasing an additional 415,942 shares during the last quarter. Bristlecone Advisors LLC boosted its stake in shares of Etsy by 15.0% during the 1st quarter. Bristlecone Advisors LLC now owns 24,723 shares of the specialty retailer's stock worth $1,166,000 after acquiring an additional 3,234 shares during the period. National Bank of Canada FI boosted its stake in shares of Etsy by 8,050,000.0% during the 1st quarter. National Bank of Canada FI now owns 161,002 shares of the specialty retailer's stock worth $7,596,000 after acquiring an additional 161,000 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Etsy during the 1st quarter worth approximately $226,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Etsy by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer's stock worth $55,901,000 after acquiring an additional 53,831 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Buying and Selling

In related news, Director Melissa Reiff sold 6,909 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was 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 of the company's stock, valued at $967,209.36. This trade represents a 29.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $58.76, for a total value of $1,273,094.16. Following the sale, the chief executive officer directly owned 62,674 shares of the company's stock, valued at $3,682,724.24. This represents a 25.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,968 shares of company stock valued at $22,076,609. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETSY. Canaccord Genuity Group set a $76.00 target price on Etsy in a research note on Wednesday, July 30th. Loop Capital reduced their target price on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price target on Etsy from $41.00 to $57.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Needham & Company LLC boosted 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $57.20.

Etsy Trading Up 7.6%

ETSY traded up $4.72 on Tuesday, reaching $66.49. The stock had a trading volume of 8,134,718 shares, compared to its average volume of 5,625,578. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 3.92 and a beta of 1.73. The firm has a 50-day moving average of $57.77 and a 200-day moving average of $51.79. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $68.45.

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

Etsy Company 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.