Focus Partners Advisor Solutions LLC Makes New Investment in Etsy, Inc. $ETSY

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Etsy, Inc., purchasing 19,539 shares valued at approximately $922,000 during the 1st quarter of 2023.
• Insider transactions include CEO Josh Silverman selling 140,000 shares for $9.1 million, reducing his ownership by 69%, alongside other notable insider sales totaling over $15 million in the last quarter.
• Analysts have recently adjusted their ratings for Etsy, with Arete Research upgrading shares from a "strong sell" to a "hold" rating and setting a target price range between $50 and $67, indicating mixed sentiments about the stock's performance.

Focus Partners Advisor Solutions LLC bought a new position 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 & Exchange Commission. The firm bought 19,539 shares of the specialty retailer's stock, valued at approximately $922,000.

A number of other institutional investors have also made changes to their positions in the business. Graham Capital Management L.P. acquired a new stake in Etsy in the first quarter valued at approximately $1,038,000. Alamea Verwaltungs GmbH bought a new stake in Etsy in the first quarter worth $340,000. Quarry LP lifted its holdings in Etsy by 74.8% in the first quarter. Quarry LP now owns 2,279 shares of the specialty retailer's stock valued at $108,000 after acquiring an additional 975 shares during the period. DRW Securities LLC raised its stake in Etsy by 299.4% during the 1st quarter. DRW Securities LLC now owns 21,189 shares of the specialty retailer's stock valued at $1,000,000 after purchasing an additional 15,884 shares during the period. Finally, Long Focus Capital Management LLC boosted its position in shares of Etsy by 3.6% during the 1st quarter. Long Focus Capital Management LLC now owns 290,100 shares of the specialty retailer's stock valued at $13,687,000 after acquiring an additional 10,000 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Trading Up 7.7%

NASDAQ ETSY traded up $4.14 during trading on Monday, hitting $58.20. The company had a trading volume of 9,111,300 shares, compared to its average volume of 4,907,581. The company's fifty day moving average is $58.48 and its 200-day moving average is $52.31. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 3.44 and a beta of 1.77. Etsy, Inc. has a one year low of $40.05 and a one year high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Citizens Jmp raised Etsy to a "hold" rating in a research report on Thursday, July 10th. Needham & Company LLC boosted their price objective on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Finally, Bank of America raised their price target on Etsy from $67.00 to $71.00 and gave the company a "neutral" rating 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, Etsy currently has an average rating of "Hold" and an average price target of $57.80.

Insider Activity

In related news, Director Marla J. Blow sold 450 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $67.46, for a total transaction of $30,357.00. Following the transaction, the director owned 9,491 shares of the company's stock, valued at $640,262.86. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Andrew Ballard sold 2,400 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the completion of the sale, the director owned 5,796 shares in the company, valued at $361,786.32. This represents a 29.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,482 shares of company stock worth $15,393,191. 2.80% of the stock is currently owned by corporate insiders.

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.