Cim Investment Management Inc. Invests $1.17 Million in Etsy, Inc. (NASDAQ:ETSY)

Cim Investment Management Inc. acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 5,691 shares of the specialty retailer’s stock, valued at approximately $1,171,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corsicana & Co. bought a new stake in shares of Etsy during the 2nd quarter worth $25,000. Harbour Investments Inc. purchased a new stake in shares of Etsy in the first quarter valued at $28,000. BerganKDV Wealth Management LLC lifted its holdings in shares of Etsy by 100.0% in the second quarter. BerganKDV Wealth Management LLC now owns 200 shares of the specialty retailer’s stock valued at $41,000 after purchasing an additional 100 shares in the last quarter. Capital Analysts LLC lifted its holdings in shares of Etsy by 109.1% in the second quarter. Capital Analysts LLC now owns 230 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Wagner Wealth Management LLC purchased a new stake in shares of Etsy in the first quarter valued at $48,000. 87.30% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ETSY traded up $2.99 during midday trading on Thursday, hitting $216.74. The company’s stock had a trading volume of 45,438 shares, compared to its average volume of 1,929,888. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 3.67 and a beta of 1.62. The stock’s 50 day simple moving average is $207.94 and its 200 day simple moving average is $195.10. Etsy, Inc. has a fifty-two week low of $113.49 and a fifty-two week high of $251.86. The company has a debt-to-equity ratio of 4.36, a quick ratio of 6.61 and a current ratio of 6.61.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The company had revenue of $528.90 million for the quarter, compared to the consensus estimate of $525.70 million. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. As a group, analysts anticipate that Etsy, Inc. will post 2.95 EPS for the current year.

ETSY has been the subject of a number of research analyst reports. Loop Capital increased their target price on Etsy from $220.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, September 28th. Jefferies Financial Group began coverage on Etsy in a report on Thursday, September 30th. They set a “buy” rating and a $265.00 price objective for the company. Morgan Stanley upgraded Etsy from an “underweight” rating to an “equal weight” rating and set a $163.00 price objective for the company in a report on Thursday, August 5th. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating and set a $190.00 price objective for the company in a report on Monday, August 9th. Finally, Truist Securities increased their price objective on Etsy from $215.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, June 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $226.73.

In related news, insider Goyal Kruti Patel sold 1,280 shares of Etsy stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $215.55, for a total transaction of $275,904.00. Following the sale, the insider now directly owns 33,011 shares of the company’s stock, valued at $7,115,521.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 27,000 shares of Etsy stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $220.96, for a total value of $5,965,920.00. Following the sale, the chief executive officer now directly owns 27,000 shares in the company, valued at $5,965,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,485 shares of company stock worth $17,217,142. 3.80% of the stock is currently owned by company insiders.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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