FORA Capital LLC Invests $4.02 Million in Etsy, Inc. $ETSY

FORA Capital LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 80,144 shares of the specialty retailer’s stock, valued at approximately $4,020,000.

Several other hedge funds have also added to or reduced their stakes in ETSY. Cetera Investment Advisers grew its position in shares of Etsy by 12.7% during the 1st quarter. Cetera Investment Advisers now owns 6,941 shares of the specialty retailer’s stock worth $327,000 after purchasing an additional 781 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Etsy by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,184,851 shares of the specialty retailer’s stock worth $55,901,000 after buying an additional 53,831 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Etsy during the first quarter valued at about $13,316,000. HighTower Advisors LLC boosted its position in Etsy by 18.5% during the 1st quarter. HighTower Advisors LLC now owns 4,889 shares of the specialty retailer’s stock worth $231,000 after buying an additional 764 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Etsy in the first quarter worth $216,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Trading Up 0.5%

Shares of NASDAQ:ETSY opened at $53.77 on Friday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The stock has a market cap of $5.31 billion, a P/E ratio of 43.37, a P/E/G ratio of 10.65 and a beta of 1.76. The company has a 50 day moving average of $61.73 and a 200 day moving average of $60.03.

Etsy (NASDAQ:ETSY) last posted 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 business had revenue of $678.03 million during 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 revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Merilee Buckley sold 11,827 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $61.47, for a total value of $727,005.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Josh Silverman sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $72.50, for a total value of $10,875,000.00. Following the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $4,543,865. This represents a 70.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 311,105 shares of company stock valued at $21,144,854 over the last quarter. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Guggenheim restated a “buy” rating and issued a $70.00 price target on shares of Etsy in a research report on Thursday, September 18th. Needham & Company LLC increased their target price on Etsy from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Canaccord Genuity Group boosted their price objective on Etsy from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Etsy from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, BNP Paribas started 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 have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus price target of $63.96.

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.