Amalgamated Bank lowered its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 3.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 30,734 shares of the specialty retailer’s stock after selling 1,180 shares during the quarter. Amalgamated Bank’s holdings in Etsy were worth $6,391,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ETSY. Trust Asset Management LLC lifted its stake in Etsy by 7.3% in the third quarter. Trust Asset Management LLC now owns 1,219 shares of the specialty retailer’s stock valued at $254,000 after buying an additional 83 shares during the last quarter. Twin Capital Management Inc. bought a new stake in Etsy in the third quarter valued at $417,000. Banque Cantonale Vaudoise lifted its stake in Etsy by 210.5% in the third quarter. Banque Cantonale Vaudoise now owns 5,900 shares of the specialty retailer’s stock valued at $1,227,000 after buying an additional 4,000 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Etsy by 3.5% in the third quarter. Commonwealth Equity Services LLC now owns 23,439 shares of the specialty retailer’s stock valued at $4,874,000 after buying an additional 784 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Etsy by 89.6% during the third quarter. Sigma Planning Corp now owns 4,420 shares of the specialty retailer’s stock valued at $919,000 after purchasing an additional 2,089 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.
Shares of ETSY opened at $224.78 on Wednesday. The company has a market capitalization of $28.50 billion, a PE ratio of 66.50, a price-to-earnings-growth ratio of 3.58 and a beta of 1.63. Etsy, Inc. has a one year low of $153.80 and a one year high of $307.75. The company has a debt-to-equity ratio of 4.33, a current ratio of 2.29 and a quick ratio of 2.29. The company’s fifty day moving average price is $249.72 and its 200 day moving average price is $216.38.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, November 3rd. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $518.51 million. Etsy had a net margin of 21.55% and a return on equity of 77.17%. During the same period last year, the business posted $0.70 EPS. Analysts anticipate that Etsy, Inc. will post 3.01 earnings per share for the current year.
In other Etsy news, CMO Ryan M. Scott sold 6,146 shares of the firm’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $202.84, for a total value of $1,246,654.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 27,000 shares of the firm’s stock in a transaction on Thursday, September 30th. The stock was sold at an average price of $208.80, for a total transaction of $5,637,600.00. The disclosure for this sale can be found here. Insiders sold a total of 287,020 shares of company stock worth $70,764,315 over the last 90 days. Company insiders own 3.30% of the company’s stock.
A number of brokerages recently weighed in on ETSY. UBS Group started coverage on shares of Etsy in a research note on Thursday, December 2nd. They set a “sell” rating and a $215.00 price objective on the stock. Truist Securities lifted their price target on Etsy from $215.00 to $274.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. Wedbush lifted their target price on Etsy from $264.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, November 24th. Citigroup lifted their target price on Etsy from $245.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, November 24th. They noted that the move was a valuation call. Finally, Truist boosted their price target on Etsy from $215.00 to $274.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $255.52.
Etsy Company Profile
Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.
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