Lynch Asset Management Inc. Has $383,000 Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Lynch Asset Management Inc. cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 24.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,900 shares of the specialty retailer’s stock after selling 2,200 shares during the period. Lynch Asset Management Inc.’s holdings in Etsy were worth $383,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ETSY. Sunbelt Securities Inc. increased its stake in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in Etsy in the 1st quarter valued at about $262,000. Allspring Global Investments Holdings LLC grew its stake in Etsy by 68.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,968 shares of the specialty retailer’s stock valued at $754,000 after buying an additional 4,474 shares during the last quarter. Deepwater Asset Management LLC grew its stake in Etsy by 8.6% in the 1st quarter. Deepwater Asset Management LLC now owns 175,507 shares of the specialty retailer’s stock valued at $12,061,000 after buying an additional 13,947 shares during the last quarter. Finally, Exchange Capital Management Inc. grew its stake in Etsy by 1.6% in the 1st quarter. Exchange Capital Management Inc. now owns 15,364 shares of the specialty retailer’s stock valued at $1,056,000 after buying an additional 240 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ETSY shares. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Etsy in a research report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday. Loop Capital decreased their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.83.

Etsy Trading Up 0.0 %

NASDAQ:ETSY traded up $0.01 on Friday, hitting $48.64. The company had a trading volume of 2,491,826 shares, compared to its average volume of 3,195,688. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 4.85 and a beta of 1.97. The firm has a 50 day moving average of $53.09 and a two-hundred day moving average of $58.71. Etsy, Inc. has a 52 week low of $48.07 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. As a group, equities analysts forecast that Etsy, Inc. will post 2.38 EPS for the current year.

Insider Activity

In other news, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,619 shares of company stock valued at $300,670. Insiders own 2.60% of the company’s stock.

About Etsy

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.