Oak Thistle LLC Buys Shares of 11,020 Etsy, Inc. (NASDAQ:ETSY)

Oak Thistle LLC bought a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,020 shares of the specialty retailer's stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETSY. HighTower Advisors LLC acquired a new position in shares of Etsy during the fourth quarter worth about $218,000. Natixis Advisors LLC acquired a new position in shares of Etsy during the fourth quarter worth about $606,000. Teacher Retirement System of Texas boosted its position in shares of Etsy by 50.7% during the fourth quarter. Teacher Retirement System of Texas now owns 32,442 shares of the specialty retailer's stock worth $1,716,000 after buying an additional 10,920 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Etsy during the fourth quarter worth about $1,269,000. Finally, Vanguard Group Inc. boosted its position in shares of Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after buying an additional 56,772 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETSY has been the subject of several recent research reports. Wells Fargo & Company set a $41.00 price objective on Etsy and gave the stock an "underweight" rating in a research report on Monday, June 30th. B. Riley reduced 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. Canaccord Genuity Group reduced their price objective on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Stifel Nicolaus dropped their target price on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Loop Capital dropped their target price on Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $51.71.

Insider Activity

In related news, CEO Josh Silverman sold 151,666 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 107,809 shares of the company's stock, valued at $6,218,423.12. This represents a 58.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total value of $77,040.00. Following the sale, the insider directly owned 34,683 shares in the company, valued at $1,781,318.88. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,298 shares of company stock valued at $20,256,039. 2.80% of the stock is owned by insiders.

Etsy Trading Up 1.5%

NASDAQ:ETSY traded up $0.95 on Monday, hitting $63.41. The company's stock had a trading volume of 1,542,691 shares, compared to its average volume of 4,692,754. Etsy, Inc. has a one year low of $40.05 and a one year high of $66.31. The stock has a fifty day moving average of $55.59 and a two-hundred day moving average of $51.17. The firm has a market capitalization of $6.61 billion, a P/E ratio of 45.27, a price-to-earnings-growth ratio of 3.41 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same period in the previous year, the company posted $0.48 EPS. Etsy's revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy 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.