Ensign Peak Advisors Inc Sells 38,892 Shares of Etsy, Inc. $ETSY

Ensign Peak Advisors Inc reduced its position in Etsy, Inc. (NASDAQ:ETSY) by 54.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,434 shares of the specialty retailer’s stock after selling 38,892 shares during the period. Ensign Peak Advisors Inc’s holdings in Etsy were worth $1,627,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Heritage Wealth Advisors raised its stake in Etsy by 476.5% in the second quarter. Heritage Wealth Advisors now owns 490 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 405 shares during the period. Signaturefd LLC boosted its stake in shares of Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 192 shares during the period. SVB Wealth LLC acquired a new position in shares of Etsy during the 1st quarter worth approximately $36,000. Brooklyn Investment Group increased its holdings in shares of Etsy by 842.2% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 699 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Etsy by 18.7% in the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 181 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Etsy from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. BNP Paribas Exane initiated coverage on shares of Etsy in a report on Monday. They set a “neutral” rating for the company. Evercore ISI lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. UBS Group raised their price objective on shares of Etsy from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Finally, Moffett Nathanson restated a “neutral” rating on shares of Etsy in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.38.

Etsy Stock Up 0.5%

Shares of NASDAQ:ETSY opened at $54.25 on Friday. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The company’s 50 day moving average price is $64.58 and its two-hundred day moving average price is $59.45. The firm has a market cap of $5.35 billion, a PE ratio of 43.75, a PEG ratio of 10.65 and a beta of 1.87.

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

Insider Activity

In related news, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $576,451.85. Following the completion of the transaction, the insider owned 54,840 shares of the company’s stock, valued at $4,113,548.40. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the sale, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at $4,852,021.16. This represents a 21.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 377,605 shares of company stock worth $24,893,486. 2.80% of the stock is owned by insiders.

Etsy Company Profile

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.