Northwestern Mutual Wealth Management Co. Makes New Investment in Etsy Inc $ETSY

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Etsy Inc (NYSE:ETSY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,159 shares of the company’s stock, valued at approximately $690,000.

A number of other large investors also recently modified their holdings of ETSY. Smartleaf Asset Management LLC grew its position in Etsy by 10.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after acquiring an additional 158 shares during the last quarter. Alamea Verwaltungs GmbH raised its position in Etsy by 2.3% in the second quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after purchasing an additional 169 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Etsy by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after purchasing an additional 180 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Etsy by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock valued at $1,250,000 after purchasing an additional 224 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of ETSY opened at $81.75 on Thursday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The business’s 50 day moving average price is $80.46 and its two-hundred day moving average price is $65.93. The firm has a market cap of $7.76 billion, a PE ratio of 45.67, a price-to-earnings-growth ratio of 4.08 and a beta of 1.84.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.75 by ($1.24). The company had revenue of $668.31 million for the quarter, compared to analyst estimates of $646.10 million. Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Research analysts predict that Etsy Inc will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Richard Edward Colburn III sold 8,252 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $82.09, for a total transaction of $677,406.68. Following the transaction, the insider owned 6,503 shares of the company’s stock, valued at $533,831.27. This represents a 55.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Josh Silverman sold 6,294 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $84.00, for a total value of $528,696.00. Following the completion of the sale, the insider owned 249,559 shares of the company’s stock, valued at approximately $20,962,956. This represents a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 584,967 shares of company stock valued at $43,908,631. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ETSY. Evercore set a $83.00 price objective on Etsy in a research note on Thursday, August 6th. Roth Capital assumed coverage on shares of Etsy in a research report on Thursday, May 21st. They set a “buy” rating on the stock. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Citigroup upped their price target on shares of Etsy from $60.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Seaport Research Partners raised shares of Etsy to a “buy” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus price target of $84.68.

Etsy Company Profile

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.