Etsy, Inc. $ETSY Holdings Increased by Optimize Financial Inc

Key Points

• Optimize Financial Inc has increased its stake in Etsy, Inc. by 49.0%, owning 14,756 shares valued at $696,000 as of the latest SEC filing.
• A total of 99.53% of Etsy's stock is now owned by institutional investors and hedge funds, with several firms markedly increasing their positions recently.
• Etsy recently reported earnings that missed expectations, with an EPS of $0.25 compared to a consensus estimate of $0.54, while revenue was up 3.8% year-over-year at $672.66 million.

Optimize Financial Inc boosted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,756 shares of the specialty retailer's stock after buying an additional 4,850 shares during the quarter. Optimize Financial Inc's holdings in Etsy were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 248 shares during the period. True Wealth Design LLC raised its stake 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 acquiring an additional 292 shares during the period. GAMMA Investing LLC raised its stake in shares of Etsy by 39.4% in the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock valued at $91,000 after acquiring an additional 545 shares during the period. Brooklyn Investment Group raised its stake in shares of Etsy by 842.2% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 699 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Etsy in the 1st quarter valued at $36,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In related news, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the sale, the director directly owned 5,796 shares in the company, valued at $361,786.32. This trade represents a 29.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 65,000 shares of Etsy stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.50, for a total transaction of $3,737,500.00. Following the completion of the sale, the chief executive officer owned 62,674 shares in the company, valued at approximately $3,603,755. This represents a 50.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,482 shares of company stock worth $19,130,691 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein raised their target price on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Arete Research raised shares of Etsy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 7th. Barclays reaffirmed a "positive" rating and set a $60.00 price target (up from $52.00) on shares of Etsy in a report on Thursday, July 31st. Stifel Nicolaus raised their price target on shares of Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley raised their price target on shares of Etsy from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $57.80.

Etsy Trading Down 1.1%

ETSY stock traded down $0.65 during mid-day trading on Friday, hitting $58.94. 4,196,095 shares of the company were exchanged, compared to its average volume of 5,528,143. The company has a market capitalization 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. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $70.57. The firm has a fifty day simple moving average of $59.02 and a 200 day simple moving average of $52.51.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS 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 during the quarter, compared to analyst estimates of $645.16 million. During the same period last year, the firm posted $0.41 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

About Etsy

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.