Jump Financial LLC Acquires 20,292 Shares of Etsy, Inc. $ETSY

Key Points

• Jump Financial LLC increased its stake in Etsy, Inc. by 20.8%, purchasing an additional 20,292 shares to bring its total holdings to 118,053 shares, valued at approximately $5.57 million.
• CEO Josh Silverman sold 151,666 shares of Etsy stock, representing a 58.45% decrease in his position, with a total transaction value of approximately $8.75 million.
• Analysts have varied opinions on Etsy, with price targets ranging from $55.00 to $71.00 and a consensus rating of "Hold" for the stock.

Jump Financial LLC lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,053 shares of the specialty retailer's stock after buying an additional 20,292 shares during the quarter. Jump Financial LLC owned about 0.11% of Etsy worth $5,570,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Etsy in the first quarter valued at about $36,000. Allworth Financial LP raised its holdings in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Etsy by 842.2% in the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock valued at $37,000 after buying an additional 699 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in shares of Etsy by 862.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,270 shares of the specialty retailer's stock valued at $70,000 after buying an additional 1,138 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the transaction, the chief executive officer owned 107,809 shares in the company, valued at $6,218,423.12. The trade was a 58.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the transaction, the insider owned 34,683 shares in the company, valued at $1,781,318.88. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 364,618 shares of company stock worth $21,975,392 over the last three months. Company insiders own 2.80% of the company's stock.

Etsy Trading Down 0.4%

Etsy stock opened at $62.66 on Monday. The firm has a market capitalization of $6.21 billion, a P/E ratio of 50.53, a PEG ratio of 3.99 and a beta of 1.73. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $70.57. The business has a 50-day moving average of $58.46 and a 200-day moving average of $52.36.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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 net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million for the quarter, compared to the consensus estimate of $645.16 million. During the same quarter last year, the firm earned $0.41 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of research reports. Barclays reiterated a "positive" rating and issued a $60.00 price objective (up from $52.00) on shares of Etsy in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on Etsy from $41.00 to $57.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Bank of America lifted their price objective on Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Guggenheim lifted their price objective on Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, B. Riley lowered their price objective on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Eight equities research 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.com, the company has a consensus rating of "Hold" and an average price target of $57.80.

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.

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