Swiss National Bank Decreases Stake in Etsy Inc. (ETSY)
Swiss National Bank reduced its stake in Etsy Inc. (NASDAQ:ETSY) by 4.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 115,500 shares of the company’s stock after selling 5,600 shares during the period. Swiss National Bank owned about 0.10% of Etsy worth $1,108,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ETSY. Pacad Investment Ltd. acquired a new stake in shares of Etsy during the first quarter valued at approximately $131,000. American Century Companies Inc. acquired a new stake in shares of Etsy during the second quarter valued at approximately $166,000. Bayesian Capital Management LP acquired a new stake in shares of Etsy during the first quarter valued at approximately $177,000. Boston Private Wealth LLC boosted its stake in shares of Etsy by 0.3% in the second quarter. Boston Private Wealth LLC now owns 24,544 shares of the company’s stock valued at $235,000 after buying an additional 75 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Etsy during the second quarter valued at approximately $280,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.
Shares of Etsy Inc. (NASDAQ:ETSY) traded up 3.92% during midday trading on Monday, hitting $14.84. The company had a trading volume of 2,022,345 shares. The firm’s 50-day moving average is $14.04 and its 200-day moving average is $10.63. The firm’s market capitalization is $1.65 billion. Etsy Inc. has a 12-month low of $6.04 and a 12-month high of $15.70.
Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.05. The firm earned $85.35 million during the quarter, compared to the consensus estimate of $80.55 million. Etsy had a negative net margin of 5.37% and a negative return on equity of 3.08%. Etsy’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, analysts predict that Etsy Inc. will post ($0.06) earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. Citigroup Inc. assumed coverage on shares of Etsy in a research report on Monday, August 1st. They issued a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research upgraded Etsy from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, August 5th. Roth Capital upgraded Etsy from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $6.50 to $14.25 in a report on Wednesday, August 3rd. Maxim Group boosted their price objective on Etsy from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, TheStreet upgraded Etsy from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.09.
In other Etsy news, insider John Allspaw sold 63,468 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.50, for a total value of $793,350.00. Following the transaction, the insider now owns 66,864 shares of the company’s stock, valued at $835,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kristina Salen sold 63,161 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $15.00, for a total value of $947,415.00. Following the completion of the transaction, the chief financial officer now directly owns 64,903 shares in the company, valued at approximately $973,545. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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