New England Investment & Retirement Group Inc. Invests $5.26 Million in Etsy, Inc. (NASDAQ:ETSY)


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New England Investment & Retirement Group Inc. purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,059 shares of the specialty retailer’s stock, valued at approximately $5,255,000. Etsy comprises 1.3% of New England Investment & Retirement Group Inc.’s investment portfolio, making the stock its 27th largest holding.

Several other large investors have also recently added to or reduced their stakes in ETSY. Golden Green Inc. bought a new stake in Etsy in the fourth quarter valued at approximately $380,000. Mountain Capital Investment Advisors Inc raised its position in shares of Etsy by 19.9% during the first quarter. Mountain Capital Investment Advisors Inc now owns 5,314 shares of the specialty retailer’s stock worth $1,190,000 after purchasing an additional 882 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Etsy by 158.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 26,620 shares of the specialty retailer’s stock worth $4,736,000 after purchasing an additional 16,330 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Etsy by 1.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 159,162 shares of the specialty retailer’s stock worth $28,317,000 after purchasing an additional 2,469 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Etsy by 7.3% during the fourth quarter. Hsbc Holdings PLC now owns 95,498 shares of the specialty retailer’s stock worth $17,189,000 after purchasing an additional 6,505 shares during the period. Institutional investors own 87.69% of the company’s stock.

In related news, CTO Michael T. Fisher sold 24,592 shares of Etsy stock in a transaction on Monday, April 5th. The stock was sold at an average price of $198.40, for a total value of $4,879,052.80. Following the transaction, the chief technology officer now owns 25,665 shares in the company, valued at $5,091,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 746 shares of the company’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $214.21, for a total value of $159,800.66. Following the sale, the chief accounting officer now owns 441 shares of the company’s stock, valued at $94,466.61. The disclosure for this sale can be found here. Insiders sold 57,503 shares of company stock valued at $11,492,484 over the last quarter. Insiders own 3.80% of the company’s stock.

ETSY has been the topic of a number of research reports. Zacks Investment Research lowered Etsy from a “hold” rating to a “sell” rating and set a $218.00 target price on the stock. in a research report on Wednesday, April 28th. Canaccord Genuity increased their price target on Etsy from $215.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. Morgan Stanley upped their price objective on Etsy from $93.00 to $123.00 and gave the company an “underweight” rating in a research note on Thursday, March 4th. Citigroup upped their price objective on Etsy from $250.00 to $260.00 in a research note on Tuesday, March 2nd. Finally, The Goldman Sachs Group upped their price objective on Etsy from $178.00 to $286.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seventeen have issued a buy rating to the company’s stock. Etsy currently has a consensus rating of “Buy” and an average price target of $205.32.

NASDAQ ETSY traded down $3.13 during trading on Tuesday, reaching $187.58. 16,587 shares of the company’s stock were exchanged, compared to its average volume of 3,195,991. The company has a 50 day moving average price of $210.74 and a two-hundred day moving average price of $187.52. The company has a debt-to-equity ratio of 1.65, a quick ratio of 4.98 and a current ratio of 4.98. The stock has a market cap of $23.84 billion, a P/E ratio of 105.95, a price-to-earnings-growth ratio of 3.58 and a beta of 1.66. Etsy, Inc. has a 1 year low of $63.21 and a 1 year high of $251.86.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Thursday, February 25th. The specialty retailer reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.48. Etsy had a return on equity of 46.30% and a net margin of 16.83%. The business had revenue of $617.36 million during the quarter, compared to the consensus estimate of $524.86 million. Research analysts forecast that Etsy, Inc. will post 2.12 EPS for the current fiscal year.

About Etsy

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 online market places include Etsy.com and Reverb.com. The company offers approximately 85 million items in its various retail categories to buyers.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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