Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Keybank National Association OH

Posted by Defense World Staff on Apr 20th, 2023

Keybank National Association OH grew its holdings in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,835 shares of the specialty retailer’s stock after purchasing an additional 321 shares during the quarter. Keybank National Association OH’s holdings in Etsy were worth $579,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Clearbridge Investments LLC boosted its position in Etsy by 69.7% during the first quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares during the last quarter. Capital International Investors boosted its position in Etsy by 56.1% during the first quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after acquiring an additional 768,350 shares during the last quarter. Bares Capital Management Inc. boosted its position in Etsy by 86.7% during the third quarter. Bares Capital Management Inc. now owns 1,543,233 shares of the specialty retailer’s stock worth $154,524,000 after acquiring an additional 716,680 shares during the last quarter. Capital World Investors raised its stake in Etsy by 13.4% during the first quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after purchasing an additional 409,540 shares during the period. Finally, Van ECK Associates Corp raised its stake in Etsy by 16.8% during the third quarter. Van ECK Associates Corp now owns 1,889,010 shares of the specialty retailer’s stock worth $189,146,000 after purchasing an additional 272,276 shares during the period. 95.46% of the stock is currently owned by institutional investors and hedge funds.

Etsy Price Performance

Etsy stock opened at $102.38 on Thursday. The firm’s 50 day simple moving average is $113.95 and its 200-day simple moving average is $118.02. The company has a market cap of $12.76 billion, a P/E ratio of -17.84, a price-to-earnings-growth ratio of 5.72 and a beta of 1.99. Etsy, Inc. has a fifty-two week low of $67.01 and a fifty-two week high of $149.91.

Etsy (NASDAQ:ETSY – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The specialty retailer reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.05). The company had revenue of $807.20 million during the quarter, compared to analyst estimates of $752.12 million. Etsy had a negative net margin of 27.06% and a positive return on equity of 1,306.41%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 EPS. On average, analysts expect that Etsy, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Etsy

In related news, CFO Rachel C. Glaser sold 19,822 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $125.54, for a total transaction of $2,488,453.88. Following the completion of the sale, the chief financial officer now directly 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 SEC, which is available through this link. In related news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $106.38, for a total transaction of $2,218,023.00. Following the completion of the sale, the chief executive officer now directly owns 107,305 shares of the company’s stock, valued at approximately $11,415,105.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rachel C. Glaser sold 19,822 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $125.54, for a total transaction of $2,488,453.88. Following the completion of the sale, the chief financial officer now directly owns 49,143 shares of the company’s stock, valued at $6,169,412.22. The disclosure for this sale can be found here. Insiders have sold a total of 68,668 shares of company stock worth $7,578,571 in the last 90 days. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ETSY shares. DA Davidson increased their price target 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. UBS Group increased their price target on shares of Etsy from $124.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Piper Sandler raised shares of Etsy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $135.00 to $140.00 in a research note on Tuesday, April 4th. StockNews.com started coverage on shares of Etsy in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Barclays increased their price target on shares of Etsy from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.46.

Etsy Company Profile

(Get Rating)

Etsy, Inc engages in the operation of an 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 in 2005 and is headquartered in New York, NY.