J. Goldman & Co LP Invests $12.98 Million in Etsy Inc $ETSY

J. Goldman & Co LP acquired a new stake in Etsy Inc (NYSE:ETSY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 172,266 shares of the company’s stock, valued at approximately $12,977,000. J. Goldman & Co LP owned about 0.18% of Etsy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Etsy by 19.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock worth $282,000 after buying an additional 961 shares during the last quarter. Empowered Funds LLC grew its position in shares of Etsy by 55.5% in the 1st quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after buying an additional 3,451 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Etsy in the 1st quarter valued at $2,181,000. Northwestern Mutual Wealth Management Co. raised its stake in Etsy by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock worth $180,000 after acquiring an additional 906 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Etsy during the 2nd quarter worth $232,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 134,730 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.89, for a total value of $9,281,549.70. Following the transaction, the insider owned 130,694 shares of the company’s stock, valued at approximately $9,003,509.66. The trade was a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the sale, the director owned 421,329 shares of the company’s stock, valued at $35,062,999.38. This trade represents a 4.53% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last quarter. Company insiders own 2.50% of the company’s stock.

Etsy Stock Performance

Shares of ETSY opened at $84.59 on Wednesday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 47.26, a price-to-earnings-growth ratio of 4.21 and a beta of 1.84. The firm has a 50-day simple moving average of $80.28 and a 200-day simple moving average of $65.74.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial raised their price objective on Etsy from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. B. Riley Financial boosted their target price on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Piper Sandler upped their target price on Etsy from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upgraded Etsy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $100.00 in a research note on Friday, August 7th. Finally, Weiss Ratings cut Etsy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $84.68.

Etsy Company Profile

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.