Neuberger Berman Group LLC Makes New $719,000 Investment in Etsy, Inc. $ETSY

Neuberger Berman Group LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,339 shares of the specialty retailer’s stock, valued at approximately $719,000.

A number of other institutional investors have also recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC acquired a new position in Etsy during the first quarter valued at approximately $922,000. Jump Financial LLC raised its holdings in shares of Etsy by 20.8% during the 1st quarter. Jump Financial LLC now owns 118,053 shares of the specialty retailer’s stock worth $5,570,000 after buying an additional 20,292 shares in the last quarter. Findlay Park Partners LLP lifted its position in shares of Etsy by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 1,236,000 shares of the specialty retailer’s stock worth $58,314,000 after buying an additional 16,600 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Etsy by 90.4% in the second quarter. Chicago Partners Investment Group LLC now owns 9,383 shares of the specialty retailer’s stock valued at $471,000 after buying an additional 4,455 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Etsy in the second quarter valued at about $903,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $53.77 on Monday. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51. The firm has a market cap of $5.31 billion, a PE ratio of 43.37, a price-to-earnings-growth ratio of 10.65 and a beta of 1.76. The firm’s fifty day moving average is $61.73 and its 200-day moving average is $60.09.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.Etsy’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity at Etsy

In related news, CMO Bradley Minor sold 3,095 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $57.81, for a total value of $178,921.95. Following the transaction, the chief marketing officer owned 7,373 shares in the company, valued at $426,233.13. The trade was a 29.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 150,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $72.50, for a total value of $10,875,000.00. Following the sale, the chief executive officer owned 62,674 shares in the company, valued at approximately $4,543,865. The trade was a 70.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 311,105 shares of company stock valued at $21,144,854 over the last ninety days. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley reissued a “buy” rating on shares of Etsy in a report on Thursday, October 30th. Barclays increased their price objective on shares of Etsy from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Canaccord Genuity Group raised their target price on shares of Etsy from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $72.00 price target on shares of Etsy in a report on Thursday, October 23rd. Finally, Piper Sandler reissued a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and an average price target of $63.96.

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.