Lmcg Investments LLC Grows Position in Etsy, Inc. $ETSY

Lmcg Investments LLC raised its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 56.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,119 shares of the specialty retailer’s stock after buying an additional 23,733 shares during the quarter. Lmcg Investments LLC’s holdings in Etsy were worth $3,317,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETSY. GAMMA Investing LLC grew its holdings in Etsy by 39.4% during the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer’s stock valued at $91,000 after buying an additional 545 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Etsy in the 1st quarter worth approximately $211,000. NorthCrest Asset Manangement LLC purchased a new position in shares of Etsy in the 1st quarter worth approximately $269,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Etsy by 293.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,584 shares of the specialty retailer’s stock worth $3,236,000 after purchasing an additional 51,131 shares during the period. Finally, Bank Pictet & Cie Europe AG purchased a new position in shares of Etsy in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James Financial lifted their target price on Etsy from $50.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Etsy from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Stifel Nicolaus boosted their price objective on Etsy from $45.00 to $66.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $40.00 to $47.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Finally, Canaccord Genuity Group set a $76.00 price objective on Etsy in a report on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.88.

Etsy Stock Down 5.7%

Shares of NASDAQ ETSY opened at $68.73 on Friday. The business has a fifty day simple moving average of $62.09 and a two-hundred day simple moving average of $55.17. The firm has a market cap of $6.81 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 4.64 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 issued its 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 net margin of 5.78% and a negative return on equity of 31.10%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total transaction of $1,520,736.54. Following the completion of the sale, the chief executive officer directly owned 62,674 shares of the company’s stock, valued at $4,399,088.06. The trade was a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total value of $77,430.00. Following the sale, the insider directly owned 31,683 shares of the company’s stock, valued at approximately $1,635,476.46. This trade represents a 4.52% 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 over the last quarter. Insiders own 2.80% of the company’s stock.

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.