Covenant Asset Management LLC lifted its stake in shares of Etsy Inc (NASDAQ:ETSY) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,907 shares of the specialty retailer’s stock after buying an additional 885 shares during the period. Covenant Asset Management LLC’s holdings in Etsy were worth $1,972,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Carroll Financial Associates Inc. lifted its stake in shares of Etsy by 171.0% during the third quarter. Carroll Financial Associates Inc. now owns 542 shares of the specialty retailer’s stock worth $30,000 after buying an additional 342 shares during the period. Hanson McClain Inc. acquired a new stake in shares of Etsy during the second quarter worth $31,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Etsy during the second quarter worth $31,000. Vista Private Wealth Partners. LLC acquired a new stake in shares of Etsy during the third quarter worth $31,000. Finally, BSW Wealth Partners acquired a new stake in shares of Etsy during the second quarter worth $45,000. Institutional investors and hedge funds own 92.49% of the company’s stock.
In other Etsy news, insider Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $55.30, for a total value of $288,002.40. Following the completion of the transaction, the insider now owns 22,580 shares of the company’s stock, valued at $1,248,674. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Goyal Kruti Patel sold 3,754 shares of Etsy stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.28, for a total transaction of $200,013.12. Following the completion of the transaction, the senior vice president now directly owns 11,406 shares of the company’s stock, valued at approximately $607,711.68. The disclosure for this sale can be found here. Insiders sold 22,668 shares of company stock valued at $1,216,792 in the last ninety days. 3.00% of the stock is owned by corporate insiders.
Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Etsy had a net margin of 15.83% and a return on equity of 26.77%. The company had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $183.28 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 36.8% on a year-over-year basis. Research analysts expect that Etsy Inc will post 0.74 earnings per share for the current year.
Several equities research analysts have recently commented on ETSY shares. BidaskClub upgraded shares of Etsy from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Royal Bank of Canada upgraded shares of Etsy from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $63.00 to $68.00 in a research report on Thursday, September 19th. Stifel Nicolaus upgraded shares of Etsy from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, August 21st. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley decreased their target price on shares of Etsy from $65.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.25.
Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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