Andra AP fonden Acquires New Shares in Etsy, Inc. (NASDAQ:ETSY)

Andra AP fonden bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the specialty retailer’s stock, valued at approximately $590,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Polen Capital Management LLC increased its holdings in Etsy by 83.3% in the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after buying an additional 15,598 shares in the last quarter. MCF Advisors LLC grew its stake in shares of Etsy by 23,542.9% in the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after acquiring an additional 3,296 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of Etsy in the fourth quarter worth approximately $267,000. TD Asset Management Inc raised its holdings in shares of Etsy by 16.8% during the first quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Etsy by 2.0% during 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 purchasing an additional 30,561 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Shares of ETSY opened at $51.74 on Friday. The firm has a market cap of $6.05 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 5.22 and a beta of 1.97. Etsy, Inc. has a 1 year low of $50.63 and a 1 year high of $89.58. The company has a 50 day simple moving average of $57.10 and a two-hundred day simple moving average of $62.21.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 earnings per share. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ETSY shares. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on Etsy in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Truist Financial cut their price target on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.61.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 2,000 shares of company stock worth $116,395 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.