Yousif Capital Management LLC Sells 2,580 Shares of Etsy, Inc. $ETSY

Yousif Capital Management LLC lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,390 shares of the specialty retailer’s stock after selling 2,580 shares during the period. Yousif Capital Management LLC’s holdings in Etsy were worth $1,976,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cooper Financial Group raised its holdings in Etsy by 31.3% during the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock worth $895,000 after purchasing an additional 4,523 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Etsy during the 1st quarter worth approximately $288,000. Praxis Investment Management Inc. bought a new stake in shares of Etsy during the first quarter worth approximately $232,000. Focus Partners Advisor Solutions LLC acquired a new position in Etsy in the first quarter valued at approximately $922,000. Finally, Hunter Perkins Capital Management LLC bought a new position in Etsy in the first quarter valued at approximately $649,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ETSY. Stifel Nicolaus increased their price target on Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on Etsy from $40.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein raised their price target on Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Cantor Fitzgerald raised their price target on Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Truist Financial raised their price target on Etsy from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.92.

Insiders Place Their Bets

In related news, Director M Michele Burns sold 14,464 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $62.82, for a total value 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. The trade was a 42.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $576,451.85. Following the completion of the sale, the insider directly owned 54,840 shares in the company, valued at $4,113,548.40. This represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,667 shares of company stock worth $35,462,857 in the last ninety days. 2.80% of the stock is owned by insiders.

Etsy Stock Down 1.3%

Shares of NASDAQ ETSY opened at $70.52 on Friday. The company’s fifty day moving average is $63.37 and its 200-day moving average is $56.03. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 56.87, a P/E/G 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.

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

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.