Bristlecone Advisors LLC Purchases 1,965 Shares of Etsy, Inc. (NASDAQ:ETSY)

Bristlecone Advisors LLC raised its holdings in Etsy, Inc. (NASDAQ:ETSY) by 48.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,052 shares of the specialty retailer’s stock after buying an additional 1,965 shares during the quarter. Bristlecone Advisors LLC’s holdings in Etsy were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new stake in shares of Etsy in the 2nd quarter valued at approximately $42,000. Nisa Investment Advisors LLC grew its position in Etsy by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 8,915 shares of the specialty retailer’s stock valued at $526,000 after acquiring an additional 316 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Etsy by 4.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,038 shares of the specialty retailer’s stock valued at $769,000 after acquiring an additional 601 shares during the period. Assenagon Asset Management S.A. raised its stake in Etsy by 22.5% during the second quarter. Assenagon Asset Management S.A. now owns 733,105 shares of the specialty retailer’s stock worth $43,239,000 after acquiring an additional 134,782 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Etsy during the second quarter valued at $242,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,694 shares of company stock valued at $169,687 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Guggenheim dropped their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Truist Financial cut their target price on shares of Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, Loop Capital cut their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.55.

Etsy Stock Down 0.3 %

Shares of Etsy stock traded down $0.18 during trading on Monday, reaching $55.22. 1,226,932 shares of the company were exchanged, compared to its average volume of 3,571,199. The business has a 50-day moving average price of $58.33 and a 200-day moving average price of $64.16. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a twelve month low of $51.45 and a twelve month high of $89.58.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Etsy’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

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.