Denver PWM LLC Buys New Stake in Etsy, Inc. (NASDAQ:ETSY)

Denver PWM LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,398 shares of the specialty retailer’s stock, valued at approximately $82,000.

A number of other institutional investors also recently made changes to their positions in ETSY. National Bank of Canada FI boosted its stake in shares of Etsy by 19.0% during the 2nd quarter. National Bank of Canada FI now owns 32,266 shares of the specialty retailer’s stock worth $1,839,000 after purchasing an additional 5,146 shares during the last quarter. Larson Financial Group LLC boosted its position in Etsy by 451.1% during the second quarter. Larson Financial Group LLC now owns 3,141 shares of the specialty retailer’s stock worth $185,000 after acquiring an additional 2,571 shares during the last quarter. Fiera Capital Corp grew its stake in Etsy by 1.0% in the 2nd quarter. Fiera Capital Corp now owns 698,417 shares of the specialty retailer’s stock worth $41,193,000 after acquiring an additional 7,038 shares during the period. Van ECK Associates Corp raised its holdings in Etsy by 14.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after acquiring an additional 721,454 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Etsy by 2,736.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,851 shares of the specialty retailer’s stock worth $286,000 after purchasing an additional 4,680 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETSY shares. Truist Financial lowered their price objective on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Wedbush reiterated a “neutral” rating and set a $65.00 price objective on shares of Etsy in a report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $70.61.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, 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 is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The disclosure for this sale can be found here. Insiders have sold 3,444 shares of company stock valued at $211,237 in the last quarter. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $55.57 on Friday. The business’s 50-day simple moving average is $57.68 and its 200 day simple moving average is $62.99. The company has a market cap of $6.50 billion, a P/E ratio of 25.37, a PEG ratio of 5.44 and a beta of 2.02. Etsy, Inc. has a one year low of $51.45 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. During the same period last year, the business earned $0.83 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that Etsy, Inc. will post 2.37 earnings per share for the current year.

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.