Kera Capital Partners Inc. Purchases 4,538 Shares of Etsy, Inc. $ETSY

Key Points

• Kera Capital Partners Inc. significantly increased its stake in Etsy by 92.5%, acquiring an additional 4,538 shares, bringing its total holdings to 9,442 shares valued at approximately $474,000.
• Company insiders have been actively selling shares, including CEO Josh Silverman, who sold 140,000 shares for around $9.1 million, reducing his ownership by 69.08%.
• Analysts have boosted their price targets on Etsy, with Raymond James and Guggenheim both raising their targets to $70.00 and maintaining an "outperform" rating.

Kera Capital Partners Inc. boosted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 92.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,442 shares of the specialty retailer's stock after purchasing an additional 4,538 shares during the quarter. Kera Capital Partners Inc.'s holdings in Etsy were worth $474,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in Etsy by 112.8% in the first quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock worth $132,273,000 after purchasing an additional 1,486,142 shares during the period. Geneos Wealth Management Inc. grew its holdings in Etsy by 10.5% in the first quarter. Geneos Wealth Management Inc. now owns 4,343 shares of the specialty retailer's stock worth $205,000 after purchasing an additional 412 shares during the period. Bayforest Capital Ltd grew its holdings in Etsy by 396.3% in the first quarter. Bayforest Capital Ltd now owns 4,283 shares of the specialty retailer's stock worth $202,000 after purchasing an additional 3,420 shares during the period. Optimize Financial Inc grew its holdings in Etsy by 49.0% in the first quarter. Optimize Financial Inc now owns 14,756 shares of the specialty retailer's stock worth $696,000 after purchasing an additional 4,850 shares during the period. Finally, Woodline Partners LP acquired a new stake in Etsy in the first quarter worth $2,181,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 140,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $65.00, for a total transaction of $9,100,000.00. Following the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $4,073,810. The trade was a 69.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 5,817 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $58.83, for a total transaction of $342,214.11. The disclosure for this sale can be found here. Insiders sold 316,482 shares of company stock valued at $19,130,691 in the last quarter. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on ETSY. Raymond James Financial raised their price target on shares of Etsy from $50.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Guggenheim lifted their price objective on shares of Etsy from $50.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Bank of America lifted their price objective on shares of Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and an average target price of $57.80.

Etsy Stock Performance

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

Etsy (NASDAQ:ETSY - Get Free Report) last released 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 firm had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict 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.

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