United Services Automobile Association increased its holdings in Etsy Inc (NASDAQ:ETSY) by 1,131.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,274 shares of the specialty retailer’s stock after acquiring an additional 223,518 shares during the period. United Services Automobile Association’s holdings in Etsy were worth $12,499,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in ETSY. Mount Yale Investment Advisors LLC purchased a new stake in Etsy in the 2nd quarter worth about $102,000. Moneta Group Investment Advisors LLC purchased a new stake in Etsy in the 2nd quarter worth about $146,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Etsy in the 3rd quarter worth about $149,000. Eqis Capital Management Inc. purchased a new stake in Etsy in the 2nd quarter worth about $201,000. Finally, AMP Capital Investors Ltd purchased a new stake in Etsy in the 3rd quarter worth about $202,000. 89.86% of the stock is owned by hedge funds and other institutional investors.
Shares of ETSY stock opened at $53.92 on Friday. The company has a current ratio of 5.49, a quick ratio of 5.49 and a debt-to-equity ratio of 0.85. Etsy Inc has a fifty-two week low of $16.72 and a fifty-two week high of $58.30. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 141.89, a PEG ratio of 6.27 and a beta of 0.68.
Several research analysts have weighed in on the company. BidaskClub raised Etsy from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup assumed coverage on Etsy in a research report on Friday. They issued a “buy” rating and a $70.00 target price on the stock. Wedbush assumed coverage on Etsy in a research report on Friday, September 14th. They issued a “buy” rating on the stock. DA Davidson reaffirmed a “buy” rating and issued a $59.00 target price (up from $53.00) on shares of Etsy in a research report on Friday, September 14th. Finally, Loop Capital upped their target price on Etsy to $65.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $50.38.
In other news, Director Jonathan D. Klein sold 35,900 shares of the stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $51.12, for a total transaction of $1,835,208.00. Following the transaction, the director now owns 165,165 shares of the company’s stock, valued at approximately $8,443,234.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
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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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