Freestone Grove Partners LP Acquires New Shares in Etsy Inc $ETSY

Freestone Grove Partners LP bought a new position in Etsy Inc (NYSE:ETSY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,809 shares of the company’s stock, valued at approximately $1,116,000.

Other large investors have also recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in shares of Etsy in the fourth quarter valued at about $33,000. Global Retirement Partners LLC bought a new position in shares of Etsy in the second quarter worth about $34,000. Blue Trust Inc. lifted its position in shares of Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the last quarter. Danske Bank A S acquired a new position in Etsy during the 3rd quarter valued at $66,000. Finally, Federation des caisses Desjardins du Quebec raised its stake in Etsy by 22.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

ETSY stock opened at $83.79 on Friday. The stock has a market capitalization of $7.95 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 4.04 and a beta of 1.84. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The company has a 50 day moving average price of $80.83 and a 200 day moving average price of $66.23.

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 the consensus estimate of $0.75 by ($1.24). The business had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, equities analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $83.22, for a total transaction of $1,664,400.00. Following the completion of the transaction, the director owned 421,329 shares in the company, valued at approximately $35,062,999.38. This represents a 4.53% decrease in their position. The transaction was disclosed in a document filed 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 Etsy stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.89, for a total value of $9,281,549.70. Following the completion of the sale, the insider directly owned 130,694 shares in the company, valued at approximately $9,003,509.66. This represents a 50.76% 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 589,467 shares of company stock valued at $44,276,956 in the last three months. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETSY has been the topic of several recent research reports. Cantor Fitzgerald lifted their price objective on Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Zacks Research lowered Etsy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group began coverage on shares of Etsy in a research report on Monday, August 17th. They issued a “neutral” rating and a $89.00 price target for the company. Citigroup raised their price target on shares of Etsy from $60.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Roth Capital began coverage on Etsy in a research note on Thursday, May 21st. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $84.68.

Etsy 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.