United Services Automobile Association increased its stake in shares of Etsy Inc (NASDAQ:ETSY) by 1,131.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,274 shares of the specialty retailer’s stock after buying an additional 223,518 shares during the quarter. United Services Automobile Association owned about 0.20% of Etsy worth $12,499,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC bought a new position in shares of Etsy in the second quarter worth $102,000. Moneta Group Investment Advisors LLC bought a new position in shares of Etsy in the second quarter worth $146,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Etsy in the third quarter worth $149,000. Eqis Capital Management Inc. bought a new position in shares of Etsy in the second quarter worth $201,000. Finally, AMP Capital Investors Ltd bought a new position in shares of Etsy in the third quarter worth $202,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.
Shares of Etsy stock opened at $53.92 on Friday. The company has a quick ratio of 5.49, a current ratio of 5.49 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $6.69 billion, a PE ratio of 141.89, a PEG ratio of 6.27 and a beta of 0.68. Etsy Inc has a fifty-two week low of $16.72 and a fifty-two week high of $58.30.
Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The business had revenue of $150.37 million during the quarter, compared to analyst estimates of $149.76 million. Etsy had a return on equity of 14.10% and a net margin of 15.00%. The company’s revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Equities analysts anticipate that Etsy Inc will post 0.59 earnings per share for the current fiscal year.
Several research firms have recently issued reports on ETSY. BidaskClub raised Etsy from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup began coverage on Etsy in a research note on Friday. They issued a “buy” rating and a $70.00 price target for the company. Wedbush began coverage on Etsy in a research note on Friday, September 14th. They issued a “buy” rating for the company. DA Davidson reissued a “buy” rating and issued a $59.00 price target (up previously from $53.00) on shares of Etsy in a research note on Friday, September 14th. Finally, Loop Capital increased their price target on Etsy to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 14th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.38.
In other news, Director Jonathan D. Klein sold 35,900 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $51.12, for a total value of $1,835,208.00. Following the completion of the sale, the director now owns 165,165 shares in the company, valued at $8,443,234.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.
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Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.
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