United Capital Financial Advisers LLC Acquires Shares of 2,072 Etsy, Inc. (NASDAQ:ETSY)

Posted by Defense World Staff on Mar 9th, 2023

United Capital Financial Advisers LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,072 shares of the specialty retailer’s stock, valued at approximately $207,000.

Several other large investors have also made changes to their positions in ETSY. Allstate Corp bought a new position in Etsy during the third quarter valued at approximately $841,000. LMR Partners LLP bought a new position in Etsy in the 3rd quarter worth $496,000. Tudor Investment Corp Et Al lifted its position in Etsy by 1,274.6% during the 3rd quarter. Tudor Investment Corp Et Al now owns 19,969 shares of the specialty retailer’s stock worth $1,999,000 after acquiring an additional 21,669 shares during the last quarter. Gagnon Securities LLC acquired a new position in Etsy during the 3rd quarter worth $249,000. Finally, Hidden Lake Asset Management LP bought a new stake in Etsy during the third quarter valued at about $3,622,000. Institutional investors own 95.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com raised Etsy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st. DA Davidson raised their price objective on shares of Etsy from $121.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Morgan Stanley decreased their target price on shares of Etsy from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 23rd. Wolfe Research restated a “peer perform” rating on shares of Etsy in a research note on Thursday, February 23rd. Finally, Moffett Nathanson started coverage on Etsy in a research note on Tuesday, November 15th. They issued a “market perform” rating and a $116.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Moderate Buy” and an average target price of $132.88.

Insider Buying and Selling

In other Etsy news, CFO Rachel C. Glaser sold 19,822 shares of the business’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $125.54, for a total value of $2,488,453.88. Following the completion of the sale, the chief financial officer now owns 49,143 shares of the company’s stock, valued at approximately $6,169,412.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicholas Daniel sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total value of $135,180.00. Following the completion of the transaction, the insider now owns 3,309 shares in the company, valued at approximately $447,310.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Rachel C. Glaser sold 19,822 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $125.54, for a total transaction of $2,488,453.88. Following the sale, the chief financial officer now owns 49,143 shares of the company’s stock, valued at $6,169,412.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,542 shares of company stock valued at $10,731,872. 3.10% of the stock is owned by company insiders.

Etsy Stock Down 2.3 %

Shares of ETSY stock opened at $113.18 on Thursday. Etsy, Inc. has a 12-month low of $67.01 and a 12-month high of $151.50. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 4.10. The firm has a fifty day moving average of $129.87 and a 200-day moving average of $117.88. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of -19.72, a P/E/G ratio of 5.69 and a beta of 1.99.

Etsy (NASDAQ:ETSY – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.05). The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $752.12 million. Etsy had a positive return on equity of 1,306.41% and a negative net margin of 27.06%. Etsy’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. As a group, equities research analysts predict that Etsy, Inc. will post 3.06 earnings per share for the current fiscal year.

Etsy Company Profile

(Get Rating)

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 segments. Etsy, Reverb, Depop, and Elo7. 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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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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