Caitong International Asset Management Co. Ltd Invests $106,000 in Etsy, Inc. $ETSY

Caitong International Asset Management Co. Ltd acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,114 shares of the specialty retailer’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cardinal Point Capital Management ULC bought a new stake in shares of Etsy during the 2nd quarter worth approximately $250,000. West Tower Group LLC bought a new stake in shares of Etsy during the 2nd quarter worth approximately $201,000. Chicago Partners Investment Group LLC raised its stake in shares of Etsy by 90.4% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 9,383 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 4,455 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Etsy in the 2nd quarter valued at $1,294,000. Finally, Allianz Asset Management GmbH raised its stake in Etsy by 85.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 40,426 shares of the specialty retailer’s stock valued at $2,028,000 after acquiring an additional 18,608 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETSY shares. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Etsy in a research note on Thursday, September 18th. UBS Group increased their price target on Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday. Raymond James Financial increased their price target on Etsy from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays restated a “positive” rating and issued a $60.00 price target (up previously from $52.00) on shares of Etsy in a research note on Thursday, July 31st. Finally, Bank of America increased their price target on Etsy from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.00.

Insider Buying and Selling

In other news, Director M Michele Burns sold 14,464 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total transaction of $908,628.48. Following the sale, the director directly owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This represents a 42.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 11,944 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the sale, the insider directly owned 47,529 shares in the company, valued at approximately $2,818,944.99. This trade represents a 20.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 402,667 shares of company stock valued at $26,362,857 over the last 90 days. 2.80% of the stock is currently owned by insiders.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $73.79 on Friday. The stock’s fifty day moving average price is $63.99 and its two-hundred day moving average price is $56.93. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 10.65 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The firm had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. During the same period in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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.