Amalgamated Bank Buys 8,550 Shares of Etsy, Inc. (NASDAQ:ETSY)

Amalgamated Bank boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 33.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,825 shares of the specialty retailer’s stock after purchasing an additional 8,550 shares during the period. Amalgamated Bank’s holdings in Etsy were worth $1,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 358 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Etsy in the second quarter worth $42,000. Finally, Headlands Technologies LLC acquired a new position in Etsy during the first quarter worth $59,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research note on Monday, July 22nd. Truist Financial reiterated a “buy” rating and set a $76.00 target price on shares of Etsy in a report on Tuesday. Evercore ISI upgraded Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated a “neutral” rating and set a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Finally, Wolfe Research assumed coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.61.

Etsy Stock Performance

ETSY opened at $54.62 on Thursday. The stock has a fifty day moving average of $56.12 and a 200-day moving average of $61.17. Etsy, Inc. has a fifty-two week low of $50.63 and a fifty-two week high of $89.58. The company has a market capitalization of $6.27 billion, a P/E ratio of 24.94, a P/E/G ratio of 5.39 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data 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). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same quarter last year, the firm earned $0.83 EPS. Etsy’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 2,000 shares of company stock valued at $116,395 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

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.