Empowered Funds LLC Increases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Empowered Funds LLC lifted its holdings in Etsy, Inc. (NASDAQ:ETSYGet Rating) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,019 shares of the specialty retailer’s stock after purchasing an additional 508 shares during the period. Empowered Funds LLC’s holdings in Etsy were worth $1,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Etsy by 163.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,616,734 shares of the specialty retailer’s stock valued at $118,361,000 after buying an additional 1,002,642 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of 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 purchasing an additional 950,415 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Etsy in the second quarter valued at about $68,052,000. SRS Investment Management LLC raised its holdings in shares of Etsy by 156.5% in the second quarter. SRS Investment Management LLC now owns 1,375,260 shares of the specialty retailer’s stock valued at $100,683,000 after acquiring an additional 839,063 shares in the last quarter. Finally, Capital International Investors raised its holdings in Etsy by 56.1% in the first quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after purchasing an additional 768,350 shares in the last quarter. Institutional investors own 95.46% of the company’s stock.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 20,850 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $90.74, for a total transaction of $1,891,929.00. Following the completion of the transaction, the chief executive officer now directly owns 107,305 shares of the company’s stock, valued at approximately $9,736,855.70. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Josh Silverman sold 20,850 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.74, for a total value of $1,891,929.00. Following the completion of the transaction, the chief executive officer now directly owns 107,305 shares of the company’s stock, valued at approximately $9,736,855.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,000 shares of the stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $134.04, for a total value of $134,040.00. Following the completion of the transaction, the insider now directly owns 3,309 shares of the company’s stock, valued at $443,538.36. The disclosure for this sale can be found here. Insiders sold a total of 238,382 shares of company stock valued at $27,362,911 in the last three months. 3.10% of the stock is currently owned by company insiders.

Etsy Price Performance

Shares of ETSY stock opened at $136.68 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 4.10. The stock has a 50 day simple moving average of $126.65 and a 200-day simple moving average of $111.51. Etsy, Inc. has a 1-year low of $67.01 and a 1-year high of $163.84.

Etsy (NASDAQ:ETSYGet Rating) last announced its earnings results on Wednesday, November 2nd. The specialty retailer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.21. The business had revenue of $594.47 million during the quarter, compared to the consensus estimate of $560.19 million. Etsy had a positive return on equity of 123.01% and a negative net margin of 25.94%. As a group, equities research analysts anticipate that Etsy, Inc. will post -5.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ETSY shares. Citigroup started coverage on Etsy in a research note on Tuesday, December 13th. They set a “buy” rating and a $161.00 price target on the stock. The Goldman Sachs Group began coverage on Etsy in a research note on Monday, October 10th. They set a “buy” rating and a $130.00 price target on the stock. Jefferies Financial Group dropped their target price on Etsy from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, October 6th. TheStreet lowered Etsy from a “c” rating to a “d” rating in a research report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Etsy from $85.00 to $95.00 in a research report on Thursday, November 3rd. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy has an average rating of “Moderate Buy” and an average target price of $120.39.

Etsy Profile

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Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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