Kovack Advisors Inc. lessened its holdings in Etsy Inc (NASDAQ:ETSY) by 47.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the specialty retailer’s stock after selling 3,531 shares during the period. Kovack Advisors Inc.’s holdings in Etsy were worth $200,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Etsy in the second quarter valued at about $102,000. Moneta Group Investment Advisors LLC purchased a new position in shares of Etsy during the second quarter valued at approximately $146,000. PARK CIRCLE Co lifted its stake in shares of Etsy by 100.0% during the second quarter. PARK CIRCLE Co now owns 4,000 shares of the specialty retailer’s stock valued at $169,000 after buying an additional 2,000 shares during the period. Intl Fcstone Inc. purchased a new position in shares of Etsy during the third quarter valued at approximately $210,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Etsy during the second quarter valued at approximately $201,000. 86.73% of the stock is currently owned by institutional investors.
In related news, Director M Michele Burns sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $43.85, for a total transaction of $219,250.00. Following the completion of the transaction, the director now owns 18,487 shares of the company’s stock, valued at $810,654.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick R. Wilson sold 22,062 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $45.48, for a total transaction of $1,003,379.76. Following the transaction, the director now directly owns 23,487 shares of the company’s stock, valued at approximately $1,068,188.76. The disclosure for this sale can be found here. Insiders have sold 107,062 shares of company stock valued at $4,834,580 in the last ninety days. 2.80% of the stock is currently owned by company insiders.
Shares of ETSY stock opened at $41.55 on Friday. Etsy Inc has a one year low of $15.27 and a one year high of $53.25. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.15 billion, a P/E ratio of 109.34, a P/E/G ratio of 8.33 and a beta of 0.23.
Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Monday, August 6th. The specialty retailer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Etsy had a return on equity of 13.23% and a net margin of 17.52%. The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $127.10 million. During the same period last year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts anticipate that Etsy Inc will post 0.41 EPS for the current year.
Several brokerages recently issued reports on ETSY. Stifel Nicolaus upped their price objective on shares of Etsy from $30.00 to $37.00 and gave the company a “hold” rating in a research note on Friday, June 15th. Ifs Securities upped their price objective on shares of Etsy to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Morgan Stanley upped their price objective on shares of Etsy from $23.00 to $36.00 and gave the company an “underweight” rating in a research note on Wednesday, July 11th. Royal Bank of Canada reissued a “hold” rating and set a $45.00 price objective on shares of Etsy in a research note on Tuesday, August 7th. Finally, Wedbush reissued a “neutral” rating and set a $50.00 price objective on shares of Etsy in a research note on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Etsy has a consensus rating of “Buy” and an average price target of $45.04.
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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