1620 Investment Advisors Inc. Takes Position in Etsy, Inc. (NASDAQ:ETSY)

1620 Investment Advisors Inc. bought a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 708 shares of the specialty retailer’s stock, valued at approximately $42,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ETSY. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% in the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Etsy during the fourth quarter valued at approximately $47,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Etsy during the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $38,882.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the transaction, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,694 shares of company stock valued at $169,687. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Etsy stock traded down $0.85 during mid-day trading on Thursday, reaching $53.79. The company’s stock had a trading volume of 2,447,711 shares, compared to its average volume of 3,592,546. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a 12 month low of $51.45 and a 12 month high of $89.58. The business’s 50 day simple moving average is $58.53 and its 200 day simple moving average is $64.50.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The firm had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period last year, the business earned $0.83 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Etsy, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ETSY shares. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. B. Riley decreased their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Guggenheim reduced their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group reduced their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $73.68.

Etsy Company 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.