SteelPeak Wealth LLC Makes New Investment in Etsy, Inc. $ETSY

Key Points

• SteelPeak Wealth LLC has acquired a new position in Etsy, Inc., purchasing 4,100 shares valued at approximately $206,000 during the second quarter.
• Insider transactions saw significant sales, with CEO Josh Silverman selling 21,666 shares for over $1.5 million, representing a 25.69% decrease in his ownership.
• Etsy's stock currently has a market cap of $7.22 billion and has experienced a 52-week price range between $40.05 and $76.51.

SteelPeak Wealth LLC acquired a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,100 shares of the specialty retailer's stock, valued at approximately $206,000.

A number of other large investors have also added to or reduced their stakes in the company. 111 Capital increased its stake in Etsy by 44.2% in the 2nd quarter. 111 Capital now owns 6,224 shares of the specialty retailer's stock worth $312,000 after acquiring an additional 1,907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Etsy by 27.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,299 shares of the specialty retailer's stock worth $65,000 after purchasing an additional 280 shares during the period. Signaturefd LLC boosted its holdings in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer's stock worth $28,000 after purchasing an additional 192 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Etsy by 48.2% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 6,509 shares of the specialty retailer's stock worth $326,000 after purchasing an additional 2,118 shares during the period. Finally, Ballentine Partners LLC purchased a new position in shares of Etsy in the 2nd quarter worth approximately $236,000. Institutional investors own 99.53% of the company's stock.

Insider Transactions at Etsy

In other news, insider Goyal Kruti Patel sold 7,685 shares of the company's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $576,451.85. Following the sale, the insider owned 54,840 shares in the company, valued at $4,113,548.40. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total value of $1,520,736.54. Following the completion of the sale, the chief executive officer owned 62,674 shares in the company, valued at $4,399,088.06. The trade was a 25.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 542,667 shares of company stock valued at $35,462,857. 2.80% of the stock is owned by insiders.

Etsy Stock Performance

Etsy stock opened at $72.86 on Friday. The business's 50-day simple moving average is $61.89 and its two-hundred day simple moving average is $55.03. The company has a market cap of $7.22 billion, a PE ratio of 58.76, a PEG ratio of 4.47 and a beta of 1.85. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share 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 firm had revenue of $672.66 million for the quarter, compared to analysts' expectations of $645.16 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETSY shares. Bank of America lifted their target price on Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on Etsy from $50.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. UBS Group reiterated a "neutral" rating and issued a $67.00 target price on shares of Etsy in a report on Thursday, July 31st. BTIG Research boosted their price target on Etsy from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Finally, Arete Research raised Etsy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Etsy currently has a consensus rating of "Hold" and an average price target of $58.73.

Etsy 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.

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