SYM FINANCIAL Corp Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

SYM FINANCIAL Corp acquired a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,386 shares of the specialty retailer's stock, valued at approximately $207,000.

A number of other large investors have also added to or reduced their stakes in the business. HighTower Advisors LLC bought a new position in Etsy during the 4th quarter worth approximately $218,000. Natixis Advisors LLC bought a new position in Etsy during the 4th quarter worth approximately $606,000. Teacher Retirement System of Texas raised its holdings in Etsy by 50.7% during the 4th quarter. Teacher Retirement System of Texas now owns 32,442 shares of the specialty retailer's stock worth $1,716,000 after purchasing an additional 10,920 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Etsy during the 4th quarter worth approximately $1,269,000. Finally, Fox Run Management L.L.C. raised its holdings in Etsy by 49.2% during the 4th quarter. Fox Run Management L.L.C. now owns 9,146 shares of the specialty retailer's stock worth $484,000 after purchasing an additional 3,016 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Raymond James Financial raised their price objective on shares of Etsy from $50.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday. Evercore ISI reduced their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus reduced their price target on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $41.00 price target on shares of Etsy and gave the company an "underweight" rating in a research report on Monday, June 30th. Finally, Bank of America reduced their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $51.71.

Etsy Stock Up 1.8%

NASDAQ:ETSY traded up $1.12 on Thursday, hitting $63.98. The stock had a trading volume of 6,350,185 shares, compared to its average volume of 4,739,056. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 3.45 and a beta of 1.74. The business's 50-day simple moving average is $54.94 and its two-hundred day simple moving average is $51.10. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.31.

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

Insider Activity

In other news, 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,298 shares of company stock valued at $11,156,039 in the last ninety days. Corporate 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.