Victory Capital Management Inc. Acquires 54,420 Shares of Etsy, Inc. (NASDAQ:ETSY)

Posted by Defense World Staff on May 24th, 2023

Victory Capital Management Inc. increased its position in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 114.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,823 shares of the specialty retailer’s stock after purchasing an additional 54,420 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Etsy worth $14,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. General Partner Inc. purchased a new position in Etsy during the fourth quarter worth about $29,000. GoalVest Advisory LLC purchased a new position in Etsy during the fourth quarter worth about $30,000. Whittier Trust Co. boosted its holdings in Etsy by 888.9% during the fourth quarter. Whittier Trust Co. now owns 267 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new position in Etsy during the third quarter worth about $36,000. Finally, Accurate Wealth Management LLC purchased a new position in Etsy during the fourth quarter worth about $46,000. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In other news, 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 value of $2,488,453.88. Following the transaction, the chief financial officer now owns 49,143 shares of the company’s stock, valued at approximately $6,169,412.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $94.54, for a total value of $1,971,159.00. Following the completion of the sale, the chief executive officer now owns 114,674 shares of the company’s stock, valued at approximately $10,841,279.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 110,368 shares of company stock valued at $11,627,641 in the last quarter. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

ETSY has been the topic of several analyst reports. DA Davidson boosted their price target on shares of Etsy from $161.00 to $166.00 in a report on Thursday, May 4th. Canaccord Genuity Group boosted their target price on shares of Etsy from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Bank of America boosted their target price on shares of Etsy from $145.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Piper Sandler upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $135.00 to $140.00 in a research note on Tuesday, April 4th. Finally, Oppenheimer dropped their target price on shares of Etsy from $155.00 to $150.00 in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.14.

Etsy Trading Down 2.2 %

Etsy stock opened at $88.03 on Wednesday. The firm’s 50 day simple moving average is $100.97 and its 200 day simple moving average is $117.21. The firm has a market capitalization of $10.86 billion, a PE ratio of -15.15, a price-to-earnings-growth ratio of 5.35 and a beta of 1.99. Etsy, Inc. has a 1-year low of $67.01 and a 1-year high of $149.91.

Etsy (NASDAQ:ETSY – Get Rating) last posted its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The business had revenue of $640.90 million for the quarter, compared to analyst estimates of $620.92 million. Etsy had a negative net margin of 26.86% and a negative return on equity of 118.74%. Etsy’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 EPS. Research analysts forecast that Etsy, Inc. will post 2.36 earnings per share for the current year.

Etsy Profile

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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.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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