Legal & General Group Plc purchased a new position in Etsy Inc (NYSE:ETSY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 244,481 shares of the company's stock, valued at approximately $18,541,000. Legal & General Group Plc owned approximately 0.26% of Etsy at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ETSY. EFG International AG purchased a new stake in Etsy in the fourth quarter worth about $33,000. Global Retirement Partners LLC purchased a new position in shares of Etsy during the second quarter valued at approximately $34,000. Blue Trust Inc. boosted its position in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Danske Bank A S bought a new stake in shares of Etsy in the 3rd quarter worth approximately $66,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in shares of Etsy by 22.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company's stock worth $67,000 after buying an additional 225 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ETSY. Susquehanna lowered Etsy to a "neutral" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised Etsy from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Cantor Fitzgerald upped their target price on shares of Etsy from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Weiss Ratings cut shares of Etsy from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Loop Capital set a $105.00 price target on shares of Etsy in a research report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $84.68.
Check Out Our Latest Report on ETSY
Etsy Price Performance
ETSY stock opened at $83.79 on Monday. The company has a market cap of $7.95 billion, a P/E ratio of 46.81, a price-to-earnings-growth ratio of 4.04 and a beta of 1.84. The stock's fifty day moving average price is $80.83 and its 200-day moving average price is $66.31. Etsy Inc has a 1 year low of $44.00 and a 1 year high of $87.97.
Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The company had revenue of $668.31 million during the quarter, compared to analysts' expectations of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, analysts expect that Etsy Inc will post 3.94 earnings per share for the current year.
Insiders Place Their Bets
In other news, CAO Merilee Buckley sold 405 shares of Etsy stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $79.50, for a total transaction of $32,197.50. Following the transaction, the chief accounting officer directly owned 167 shares of the company's stock, valued at $13,276.50. The trade was a 70.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Richard Edward Colburn III sold 8,252 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the transaction, the insider owned 6,503 shares of the company's stock, valued at approximately $533,831.27. This trade represents a 55.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 434,737 shares of company stock valued at $33,619,606. 2.50% of the stock is currently owned by corporate insiders.
About Etsy
(
Free Report)
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.
Further Reading
Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy Inc (NYSE:ETSY - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Etsy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Etsy wasn't on the list.
While Etsy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
