Global Retirement Partners LLC Invests $512,000 in Etsy, Inc. $ETSY

Global Retirement Partners LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the second quarter, HoldingsChannel reports. The fund acquired 10,204 shares of the specialty retailer’s stock, valued at approximately $512,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Etsy by 423.7% in the first quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer’s stock worth $218,890,000 after acquiring an additional 3,768,787 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Etsy by 112.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer’s stock worth $132,273,000 after purchasing an additional 1,486,142 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Etsy during the 2nd quarter valued at approximately $50,033,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Etsy by 140.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,454 shares of the specialty retailer’s stock worth $33,566,000 after buying an additional 415,942 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Etsy in the first quarter worth $19,454,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 0.4%

Shares of NASDAQ:ETSY opened at $54.35 on Friday. The company has a 50 day moving average of $64.37 and a 200-day moving average of $59.58. The firm has a market cap of $5.36 billion, a P/E ratio of 43.83, a P/E/G ratio of 10.65 and a beta of 1.87. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. Equities research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling

In other Etsy news, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $576,451.85. Following the sale, the insider directly owned 54,840 shares in the company, valued at approximately $4,113,548.40. The trade was a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the completion of the sale, the chief executive officer directly owned 78,946 shares of the company’s stock, valued at $4,852,021.16. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 377,605 shares of company stock worth $24,893,486. 2.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ETSY has been the subject of several analyst reports. Weiss Ratings raised shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on shares of Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Arete upgraded shares of 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. Wells Fargo & Company cut their price target on Etsy from $58.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, BNP Paribas initiated coverage on Etsy in a research report on Monday, November 24th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus price target of $64.38.

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.