Diversified Trust Co Raises Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Diversified Trust Co grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 58.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,257 shares of the specialty retailer’s stock after buying an additional 3,798 shares during the period. Diversified Trust Co’s holdings in Etsy were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ETSY. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares during the period. Larson Financial Group LLC raised its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Etsy during the second quarter worth $42,000. Headlands Technologies LLC purchased a new position in Etsy in the 1st quarter valued at $59,000. Finally, GAMMA Investing LLC increased its stake in Etsy by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 988 shares of the specialty retailer’s stock valued at $68,000 after buying an additional 319 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ETSY. Piper Sandler restated a “neutral” rating and issued a $56.00 target price on shares of Etsy in a research note on Friday, August 23rd. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Wedbush reissued a “neutral” rating and set a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Truist Financial restated a “buy” rating and issued a $76.00 price target on shares of Etsy in a research note on Tuesday, September 24th. Finally, Wolfe Research started coverage on Etsy in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.14.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders sold a total of 5,619 shares of company stock valued at $300,670 over the last quarter. Company insiders own 2.60% of the company’s stock.

Etsy Price Performance

Etsy stock opened at $49.65 on Friday. The firm’s 50-day moving average is $53.98 and its two-hundred day moving average is $60.00. The stock has a market capitalization of $5.81 billion, a P/E ratio of 22.67, a P/E/G ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 12-month low of $49.56 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 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 firm had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $629.87 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Etsy, Inc. will post 2.38 EPS for the current 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.