Amalgamated Bank Sells 2,566 Shares of Etsy, Inc. $ETSY

Amalgamated Bank cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,811 shares of the specialty retailer’s stock after selling 2,566 shares during the period. Amalgamated Bank’s holdings in Etsy were worth $1,646,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Assetmark Inc. lifted its stake in Etsy by 7.3% during the 2nd quarter. Assetmark Inc. now owns 29,516 shares of the specialty retailer’s stock valued at $1,481,000 after acquiring an additional 2,018 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in Etsy by 666.7% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 5,750 shares of the specialty retailer’s stock valued at $288,000 after acquiring an additional 5,000 shares in the last quarter. SYM FINANCIAL Corp lifted its stake in Etsy by 20.2% during the 2nd quarter. SYM FINANCIAL Corp now owns 5,271 shares of the specialty retailer’s stock valued at $264,000 after acquiring an additional 885 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Etsy during the 2nd quarter valued at $8,671,000. Finally, Brighton Jones LLC purchased a new stake in shares of Etsy during the 2nd quarter valued at $770,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $70.00 target price on shares of Etsy in a research report on Thursday, September 18th. Bank of America raised their target price on Etsy from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Arete raised Etsy from a “sell” rating to a “neutral” rating and set a $54.00 target price for the company in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $64.00 target price on shares of Etsy in a research report on Thursday, October 30th. Finally, B. Riley reissued a “buy” rating on shares of Etsy in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.24.

Etsy Stock Up 3.3%

ETSY stock opened at $60.17 on Thursday. The firm has a market capitalization of $5.94 billion, a PE ratio of 48.53, a PEG ratio of 10.65 and a beta of 1.85. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51. The stock has a 50-day simple moving average of $64.63 and a two-hundred day simple moving average of $58.32.

Etsy (NASDAQ:ETSY) last posted its 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 business had revenue of $678.03 million during the quarter, compared to analyst estimates of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $62.82, for a total transaction of $908,628.48. Following the completion of the sale, the director owned 19,964 shares in the company, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the sale, the director owned 5,796 shares of the company’s stock, valued at approximately $361,786.32. This trade represents a 29.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 388,324 shares of company stock worth $25,602,692. 2.80% of the stock is owned by corporate insiders.

Etsy 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.