OMNI 360 Wealth Inc. acquired a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,219 shares of the specialty retailer's stock, valued at approximately $246,000.
Several other hedge funds and other institutional investors have also bought and sold shares of ETSY. Lindbrook Capital LLC raised its stake in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC raised its position in shares of Etsy by 112.7% in the 4th 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 in the last quarter. Hurley Capital LLC acquired a new position in shares of Etsy in the 4th quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new position in Etsy during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ETSY shares. Cantor Fitzgerald boosted their target price on shares of Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Morgan Stanley reduced their target price on shares of Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Bank of America reduced their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. B. Riley reduced their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup reduced their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Etsy has a consensus rating of "Hold" and an average price target of $49.91.
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Etsy Trading Up 7.4%
NASDAQ ETSY traded up $4.03 on Thursday, hitting $58.16. 6,716,250 shares of the company were exchanged, compared to its average volume of 4,332,097. The stock has a fifty day moving average of $52.32 and a 200-day moving average of $50.74. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.81. The company has a market cap of $6.06 billion, a PE ratio of 41.54, a PEG ratio of 2.94 and a beta of 1.74.
Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the previous year, the company posted $0.48 EPS. The business's quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Nicholas Daniel sold 1,500 shares of the 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 completion of the sale, the insider owned 34,683 shares in the company, valued at $1,781,318.88. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the sale, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,298 shares of company stock worth $11,156,039. Insiders own 2.80% of the company's stock.
Etsy Profile
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Free Report)
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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