Amalgamated Bank Purchases 1,586 Shares of Etsy, Inc. (NASDAQ:ETSY)

Amalgamated Bank raised its position in Etsy, Inc. (NASDAQ:ETSYGet Rating) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,671 shares of the specialty retailer’s stock after buying an additional 1,586 shares during the quarter. Amalgamated Bank’s holdings in Etsy were worth $4,185,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Rovin Capital UT ADV acquired a new stake in shares of Etsy in the 1st quarter valued at approximately $204,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Etsy by 5.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 51,390 shares of the specialty retailer’s stock valued at $6,386,000 after purchasing an additional 2,698 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Etsy by 6.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,163 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 136 shares in the last quarter. Toroso Investments LLC boosted its stake in shares of Etsy by 30.5% in the 1st quarter. Toroso Investments LLC now owns 21,594 shares of the specialty retailer’s stock valued at $2,684,000 after purchasing an additional 5,041 shares in the last quarter. Finally, Van Hulzen Asset Management LLC boosted its stake in shares of Etsy by 127.2% in the 1st quarter. Van Hulzen Asset Management LLC now owns 6,356 shares of the specialty retailer’s stock valued at $790,000 after purchasing an additional 3,559 shares in the last quarter. 98.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETSY. Stifel Nicolaus reduced their price target on shares of Etsy from $130.00 to $125.00 in a research note on Friday, July 15th. Truist Financial lifted their target price on shares of Etsy from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th. DA Davidson cut their target price on shares of Etsy from $185.00 to $146.00 in a research report on Wednesday, July 20th. BTIG Research lifted their target price on shares of Etsy from $105.00 to $122.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley cut their target price on shares of Etsy from $113.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $128.90.

Etsy Stock Performance

NASDAQ:ETSY opened at $104.07 on Thursday. The company has a fifty day moving average of $105.23 and a 200-day moving average of $102.08. The firm has a market capitalization of $13.18 billion, a P/E ratio of 36.64, a P/E/G ratio of 5.21 and a beta of 1.86. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 4.10. Etsy, Inc. has a twelve month low of $67.01 and a twelve month high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. The company had revenue of $585.20 million during the quarter, compared to analyst estimates of $556.85 million. Etsy had a net margin of 17.01% and a return on equity of 67.88%. Etsy’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.18 EPS for the current year.

Insider Activity

In other news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $90.73, for a total value of $1,891,720.50. Following the completion of the sale, the chief executive officer now owns 102,707 shares in the company, valued at approximately $9,318,606.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Etsy news, CMO Ryan M. Scott sold 712 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $100.00, for a total transaction of $71,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $90.73, for a total transaction of $1,891,720.50. Following the sale, the chief executive officer now owns 102,707 shares of the company’s stock, valued at approximately $9,318,606.11. The disclosure for this sale can be found here. Insiders sold 117,360 shares of company stock worth $11,961,821 in the last quarter. 3.10% of the stock is owned by corporate insiders.

Etsy Company Profile

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Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

Further Reading

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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