Ieq Capital LLC Purchases New Shares in Etsy Inc $ETSY

Ieq Capital LLC bought a new position in shares of Etsy Inc (NYSE:ETSY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,201 shares of the company’s stock, valued at approximately $4,083,000. Ieq Capital LLC owned approximately 0.06% of Etsy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Allworth Financial LP acquired a new position in Etsy in the 2nd quarter valued at about $136,000. Trillium Asset Management LLC acquired a new stake in Etsy during the second quarter worth $4,720,000. Vise Technologies Inc. purchased a new stake in Etsy in the second quarter valued at $375,000. Johnson Financial Group Inc. acquired a new position in shares of Etsy in the 2nd quarter valued at $105,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Etsy during the 2nd quarter worth about $1,633,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 7.1%

NYSE:ETSY opened at $86.82 on Tuesday. The stock’s 50 day simple moving average is $80.05 and its 200-day simple moving average is $65.51. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97. The firm has a market cap of $8.24 billion, a P/E ratio of 48.50, a PEG ratio of 3.92 and a beta of 1.84.

Etsy (NYSE:ETSY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million for the quarter, compared to analysts’ expectations of $646.10 million. During the same period last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Research analysts forecast that Etsy Inc will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frederick R. Wilson sold 20,000 shares of Etsy stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the sale, the director owned 421,329 shares in the company, valued at approximately $35,062,999.38. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 134,730 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.89, for a total transaction of $9,281,549.70. Following the transaction, the insider directly owned 130,694 shares in the company, valued at $9,003,509.66. The trade was a 50.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 584,967 shares of company stock worth $43,908,631 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ETSY shares. Evercore set a $83.00 price objective on Etsy in a report on Thursday, August 6th. Rosenblatt Securities assumed coverage on shares of Etsy in a report on Thursday, August 20th. They set a “buy” rating and a $95.00 target price on the stock. President Capital upgraded shares of Etsy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $91.00 in a research note on Thursday, June 25th. BTIG Research cut Etsy from a “buy” rating to a “neutral” rating in a research note on Thursday, July 16th. Finally, Arete Research set a $76.00 target price on Etsy and gave the company a “buy” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.68.

About Etsy

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.