Marex Group plc Invests $1.35 Million in Etsy, Inc. $ETSY

Marex Group plc purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the second quarter, Holdings Channel reports. The institutional investor purchased 26,827 shares of the specialty retailer’s stock, valued at approximately $1,346,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ETSY. Smartleaf Asset Management LLC raised its holdings in Etsy by 10.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 158 shares during the period. Alamea Verwaltungs GmbH grew its position in shares of Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the specialty retailer’s stock valued at $370,000 after purchasing an additional 169 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Etsy by 0.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock valued at $1,440,000 after purchasing an additional 172 shares during the period. Blue Trust Inc. raised its stake in shares of Etsy by 18.7% during the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 181 shares during the period. Finally, Signaturefd LLC lifted its holdings in Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial lifted their target price on Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Bank of America boosted their price objective on shares of Etsy from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $78.00 target price (down previously from $80.00) on shares of Etsy in a report on Thursday, October 30th. Morgan Stanley increased their target price on shares of Etsy from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company reduced their price target on shares of Etsy from $58.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.96.

Insider Buying and Selling at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,184,480.22. Following the transaction, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at approximately $4,315,977.82. This trade represents a 21.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard Edward Colburn III sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the sale, the insider owned 4,387 shares of the company’s stock, valued at $253,568.60. The trade was a 42.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 311,105 shares of company stock valued at $21,144,854. 2.80% of the stock is currently owned by company insiders.

Etsy Price Performance

Shares of Etsy stock opened at $53.77 on Monday. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $76.51. The firm has a market cap of $5.31 billion, a PE ratio of 43.37, a PEG ratio of 10.65 and a beta of 1.76. The company has a 50 day simple moving average of $61.73 and a two-hundred day simple moving average of $60.09.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. During the same quarter last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.