Stratos Wealth Partners LTD. Cuts Stake in Etsy, Inc. $ETSY

Key Points

• Stratos Wealth Partners LTD. reduced its stake in Etsy, Inc. by 11.2% during Q2, now owning approximately 0.08% of the company, valued at $4,037,000.
• Major hedge funds, including GAMMA Investing LLC and Wealth Enhancement Advisory Services LLC, have recently increased their stakes in Etsy, indicating shifting investor sentiment.
• Etsy reported earnings of $0.25 per share for Q2, missing estimates by $0.29, although revenue increased by 3.8% compared to the same quarter last year.

Stratos Wealth Partners LTD. lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,489 shares of the specialty retailer's stock after selling 10,149 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.08% of Etsy worth $4,037,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ETSY. GAMMA Investing LLC boosted its stake in Etsy by 39.4% in the first 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 last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Etsy by 293.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,584 shares of the specialty retailer's stock worth $3,236,000 after purchasing an additional 51,131 shares during the period. Praxis Investment Management Inc. purchased a new position in Etsy in the first quarter valued at approximately $232,000. Diversified Trust Co lifted its stake in Etsy by 63.9% in the first quarter. Diversified Trust Co now owns 16,829 shares of the specialty retailer's stock valued at $794,000 after purchasing an additional 6,564 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC bought a new position in Etsy during the first quarter valued at $649,000. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In related news, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $62.42, for a total transaction of $149,808.00. Following the completion of the sale, the director owned 5,796 shares of the company's stock, valued at approximately $361,786.32. This trade represents a 29.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief executive officer owned 62,674 shares in the company, valued at $4,399,088.06. This represents a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 542,667 shares of company stock valued at $35,462,857 in the last ninety days. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ETSY. Arete Research raised Etsy from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 7th. Raymond James Financial upped their price objective on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Needham & Company LLC lifted their target price on shares of Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Sanford C. Bernstein boosted their price target on shares of Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Etsy in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $59.92.

Etsy Trading Down 1.3%

ETSY stock opened at $70.52 on Friday. The firm has a 50 day moving average of $63.37 and a 200-day moving average of $56.03. The firm has a market capitalization of $6.99 billion, a P/E ratio of 56.87, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $672.66 million during the quarter, compared to analysts' expectations of $645.16 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

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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