Parcion Private Wealth LLC Invests $236,000 in Etsy, Inc. (NASDAQ:ETSY)

Parcion Private Wealth LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,012 shares of the specialty retailer's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Proficio Capital Partners LLC bought a new position in Etsy in the fourth quarter worth $604,000. HighTower Advisors LLC bought a new position in Etsy in the fourth quarter worth $218,000. Vestcor Inc bought a new position in Etsy in the fourth quarter worth $223,000. Natixis Advisors LLC bought a new position in shares of Etsy during the fourth quarter valued at $606,000. Finally, Royce & Associates LP bought a new position in shares of Etsy during the fourth quarter valued at $4,154,000. 99.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

ETSY has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on Etsy from $42.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Morgan Stanley cut their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Arete cut Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price objective for the company. in a report on Wednesday, June 11th. Finally, UBS Group cut their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Six 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's stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus price target of $49.92.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 151,666 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 107,809 shares in the company, valued at approximately $6,218,423.12. The trade was a 58.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at $1,781,318.88. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,298 shares of company stock worth $11,156,039. 2.80% of the stock is currently owned by company insiders.

Etsy Stock Up 2.9%

ETSY stock traded up $1.67 during midday trading on Friday, reaching $59.64. The stock had a trading volume of 3,897,849 shares, compared to its average volume of 4,342,046. The business has a fifty day simple moving average of $53.78 and a two-hundred day simple moving average of $50.86. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 3.08 and a beta of 1.74. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 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 analyst estimates of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. Etsy's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities analysts predict that Etsy, Inc. will post 2.57 earnings per share 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.