Parcion Private Wealth LLC Acquires Shares of 5,012 Etsy, Inc. (NASDAQ:ETSY)

Parcion Private Wealth LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,012 shares of the specialty retailer's stock, valued at approximately $236,000.

A number of other large investors have also recently made changes to their positions in the business. True Wealth Design LLC lifted its position in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC bought a new position in shares of Etsy during the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy during the fourth quarter valued at about $34,000. Allworth Financial LP lifted its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 248 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Etsy during the fourth quarter valued at about $37,000. 99.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the transaction, the insider owned 34,683 shares in the company, valued at $1,781,318.88. This represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the transaction, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,298 shares of company stock worth $11,156,039. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Bank of America reduced their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Arete Research upgraded shares of Etsy to a "strong sell" rating in a research note on Wednesday, June 11th. Sanford C. Bernstein boosted their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Six investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.92.

Etsy Price Performance

NASDAQ ETSY traded up $1.67 during trading hours on Friday, reaching $59.64. 3,897,849 shares of the company's stock traded hands, compared to its average volume of 4,355,336. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.18. The firm has a market cap of $6.22 billion, a PE ratio of 42.60, a PEG ratio of 3.28 and a beta of 1.74. The firm has a 50-day simple moving average of $54.03 and a 200 day simple moving average of $50.88.

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