Trillium Asset Management LLC Buys Shares of 62,658 Etsy Inc $ETSY

Trillium Asset Management LLC bought a new stake in Etsy Inc (NYSE:ETSY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,658 shares of the company’s stock, valued at approximately $4,720,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Etsy by 10.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock valued at $88,000 after buying an additional 158 shares during the period. Alamea Verwaltungs GmbH boosted its position in Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock worth $370,000 after acquiring an additional 169 shares during the period. PNC Financial Services Group Inc. boosted its position in Etsy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock worth $419,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. boosted its position in Etsy by 19.3% during the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in Etsy by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock valued at $1,250,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

More Etsy News

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Bank of America upgraded Etsy from Neutral to Buy and raised its price target from $88 to $95. The firm said Etsy’s recent growth appears increasingly structural rather than a temporary spike, while viewing management’s strategy execution as better than expected and estimates as conservative. BofA also identified potential support from future share repurchases. Etsy upgraded to buy at BofA on durable growth, buyback potential
• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $95 price target, implying additional upside. The brokerage favored Etsy among the e-commerce companies it reviewed, pointing to improving execution despite slower underlying market growth. Rosenblatt sees further upside for eBay, Etsy, and Wayfair
• Neutral Sentiment: Goldman Sachs began research coverage of Etsy, adding another major investment bank to the stock’s analyst base, although no rating or price target was provided in the report. Etsy research coverage started at Goldman Sachs
• Negative Sentiment: Two insiders disclosed sales made under pre-arranged Rule 10b5-1 plans. Director Marla Blow sold 300 shares, while Chief Accounting Officer Merilee Buckley sold 405 shares. The transactions are modest in dollar value, but Buckley’s sale substantially reduced her remaining direct holdings and may create a minor sentiment overhang. Etsy insider stock sales

Insiders Place Their Bets

In related news, insider Richard Edward Colburn III sold 8,252 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at approximately $533,831.27. This represents a 55.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 405 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $79.50, for a total transaction of $32,197.50. Following the transaction, the chief accounting officer directly owned 167 shares in the company, valued at $13,276.50. The trade was a 70.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 584,967 shares of company stock worth $43,908,631 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Etsy Stock Up 1.0%

NYSE ETSY opened at $81.30 on Friday. The stock has a market capitalization of $7.72 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 5.51 and a beta of 1.84. The company has a 50 day moving average price of $79.54 and a two-hundred day moving average price of $65.08. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $87.97.

Etsy (NYSE:ETSY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Etsy Inc will post 3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Etsy from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Barclays raised their price target on shares of Etsy from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Rosenblatt Securities began coverage on shares of Etsy in a research note on Thursday. They issued a “buy” rating and a $95.00 price objective on the stock. Cantor Fitzgerald upped their price objective on shares of Etsy from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $100.00 in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.68.

About Etsy

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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.