EP Wealth Advisors LLC Makes New Investment in Etsy Inc $ETSY

EP Wealth Advisors LLC bought a new position in shares of Etsy Inc (NYSE:ETSY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 9,431 shares of the company’s stock, valued at approximately $710,000.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after purchasing an additional 158 shares during the period. Alamea Verwaltungs GmbH grew its holdings in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after purchasing an additional 169 shares during the period. PNC Financial Services Group Inc. grew its holdings in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after purchasing an additional 180 shares during the period. Blue Trust Inc. increased its position in shares of Etsy by 19.3% in the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock valued at $1,250,000 after buying an additional 224 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wedbush assumed coverage on Etsy in a research report on Thursday, July 16th. They set a “neutral” rating and a $80.00 target price on the stock. Raymond James Financial boosted their price target on shares of Etsy from $75.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein raised shares of Etsy from a “hold” rating to an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.68.

Etsy Stock Performance

NYSE:ETSY opened at $86.82 on Tuesday. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The stock has a market cap of $8.24 billion, a PE ratio of 48.50, a P/E/G ratio of 3.92 and a beta of 1.84. The stock has a 50 day moving average price of $80.05 and a 200 day moving average price of $65.51.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. As a group, analysts predict that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the completion of the sale, the director directly owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This represents a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 584,967 shares of company stock worth $43,908,631. Insiders own 2.50% of the company’s stock.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.