PYA Waltman Capital LLC Acquires 5,294 Shares of Etsy, Inc. (NASDAQ:ETSY)

PYA Waltman Capital LLC raised its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 21.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,662 shares of the specialty retailer's stock after buying an additional 5,294 shares during the period. PYA Waltman Capital LLC's holdings in Etsy were worth $1,399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Etsy by 112.7% in the fourth 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 Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy in the fourth quarter valued at about $34,000. Allworth Financial LP boosted its position in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Etsy in the fourth quarter valued at about $37,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Down 0.5%

Shares of ETSY traded down $0.29 during midday trading on Friday, reaching $57.87. The stock had a trading volume of 3,410,867 shares, compared to its average volume of 4,340,438. The firm has a 50 day simple moving average of $52.91 and a 200-day simple moving average of $50.75. Etsy, Inc. has a one year low of $40.05 and a one year high of $66.81. The firm has a market cap of $6.03 billion, a PE ratio of 41.34, a P/E/G ratio of 3.18 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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). The company had revenue of $651.18 million for 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 quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

ETSY has been the topic of a number of research reports. Wells Fargo & Company set a $41.00 target price on shares of Etsy and gave the stock an "underweight" rating in a research report on Monday, June 30th. Piper Sandler reduced their target price on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. 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 research report on Thursday, May 1st. Truist Financial upped their target price on shares of Etsy from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, 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 research report on Tuesday, April 8th. 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $49.91.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.37, for a total transaction of $1,112,982.42. Following the completion of the sale, the chief executive officer owned 62,674 shares of the company's stock, valued at approximately $3,219,563.38. The trade was a 25.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer directly owned 2,896 shares of the company's stock, valued at $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,298 shares of company stock valued at $11,156,039. Company insiders own 2.80% of the company's stock.

Etsy Company 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.