Legal & General Group Plc Invests $18.54 Million in Etsy Inc $ETSY

Legal & General Group Plc bought a new position in shares of Etsy Inc (NYSE:ETSY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 244,481 shares of the company’s stock, valued at approximately $18,541,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after purchasing an additional 158 shares in the last quarter. Alamea Verwaltungs GmbH grew its holdings in Etsy by 2.3% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 7,380 shares of the company’s stock valued at $370,000 after buying an additional 169 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Etsy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,550 shares of the company’s stock valued at $419,000 after buying an additional 180 shares during the last quarter. Blue Trust Inc. raised its position 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 buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Etsy by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,547 shares of the company’s stock worth $1,250,000 after buying an additional 224 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 0.2%

Etsy stock opened at $83.79 on Monday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $87.97. The firm’s fifty day moving average is $80.83 and its 200 day moving average is $66.31. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 46.81, a PEG ratio of 4.04 and a beta of 1.84.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $646.10 million. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of research reports. Loop Capital set a $105.00 target price on shares of Etsy in a research report on Thursday, August 20th. President Capital upgraded shares of Etsy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $91.00 in a report on Thursday, June 25th. UBS Group boosted their price target on shares of Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. B. Riley Financial raised their price objective on Etsy from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Roth Capital began coverage on Etsy in a report on Thursday, May 21st. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.68.

Insider Activity at Etsy

In other Etsy news, insider Josh Silverman sold 97,389 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $79.00, for a total transaction of $7,693,731.00. Following the sale, the insider directly owned 130,694 shares in the company, valued at $10,324,826. This represents a 42.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.39, for a total value of $1,487,800.00. Following the completion of the sale, the director directly owned 441,329 shares of the company’s stock, valued at $32,830,464.31. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 434,737 shares of company stock valued at $33,619,606. Insiders own 2.50% of the company’s stock.

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.