Exchange Capital Management Inc. Buys 240 Shares of Etsy, Inc. (NASDAQ:ETSY)

Exchange Capital Management Inc. raised its stake in Etsy, Inc. (NASDAQ:ETSY) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,364 shares of the specialty retailer’s stock after acquiring an additional 240 shares during the period. Exchange Capital Management Inc.’s holdings in Etsy were worth $1,056,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ETSY. Capital International Investors boosted its holdings in shares of Etsy by 0.6% in the 4th quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer’s stock worth $662,605,000 after acquiring an additional 45,305 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Etsy by 26.5% during the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares during the last quarter. Bares Capital Management Inc. grew its holdings in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock worth $330,711,000 after purchasing an additional 36,623 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Etsy by 2.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after buying an additional 952,907 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Up 2.2 %

Shares of ETSY opened at $58.26 on Wednesday. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The stock has a market capitalization of $6.81 billion, a P/E ratio of 26.60, a P/E/G ratio of 4.81 and a beta of 2.02. The company has a 50 day moving average of $62.54 and a 200-day moving average of $68.84.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ETSY shares. B. Riley lowered their price objective on shares of Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC decreased their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays lowered their target price on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Truist Financial decreased their price target on Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Morgan Stanley dropped their price objective on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.88.

Etsy 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.