Lmcg Investments LLC Grows Position in Etsy, Inc. $ETSY

Lmcg Investments LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 56.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,119 shares of the specialty retailer’s stock after buying an additional 23,733 shares during the period. Lmcg Investments LLC owned approximately 0.06% of Etsy worth $3,317,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 181 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Etsy by 21.6% during the second quarter. IFP Advisors Inc now owns 4,001 shares of the specialty retailer’s stock valued at $201,000 after buying an additional 712 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Etsy by 1.7% during the second quarter. Vontobel Holding Ltd. now owns 40,523 shares of the specialty retailer’s stock valued at $2,033,000 after buying an additional 667 shares during the last quarter. Optas LLC purchased a new stake in shares of Etsy during the second quarter valued at $206,000. Finally, Friedenthal Financial purchased a new stake in shares of Etsy during the second quarter valued at $903,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETSY has been the topic of several recent analyst reports. Needham & Company LLC increased their price objective on Etsy from $55.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Morgan Stanley set a $54.00 target price on Etsy in a research report on Monday, September 29th. Citizens Jmp raised Etsy to a “hold” rating in a research report on Thursday, July 10th. Arete raised Etsy from a “sell” rating to a “neutral” rating and set a $54.00 target price on the stock in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein raised their target price on Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and an average target price of $58.88.

Insider Activity at Etsy

In related news, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total transaction of $908,628.48. Following the sale, the director owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total value of $77,430.00. Following the sale, the insider directly owned 31,683 shares in the company, valued at $1,635,476.46. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 542,667 shares of company stock worth $35,462,857 in the last three months. Corporate insiders own 2.80% of the company’s stock.

Etsy Stock Down 5.7%

NASDAQ ETSY opened at $68.73 on Friday. The stock’s 50-day moving average price is $62.09 and its 200-day moving average price is $55.17. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51. The company has a market capitalization of $6.81 billion, a P/E ratio of 55.43, a price-to-earnings-growth ratio of 4.64 and a beta of 1.85.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. During the same period last year, the business earned $0.41 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

About Etsy

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.