JPMorgan Chase & Co. boosted its stake in Etsy Inc. (NASDAQ:ETSY) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 572,869 shares of the company’s stock after buying an additional 29,618 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Etsy worth $5,494,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Oxford Asset Management raised its stake in shares of Etsy by 339.1% in the second quarter. Oxford Asset Management now owns 345,522 shares of the company’s stock worth $3,314,000 after buying an additional 266,829 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Etsy by 173.8% in the second quarter. Bank of New York Mellon Corp now owns 316,333 shares of the company’s stock worth $3,034,000 after buying an additional 200,785 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Etsy by 420.5% in the second quarter. California State Teachers Retirement System now owns 220,196 shares of the company’s stock worth $2,112,000 after buying an additional 177,889 shares in the last quarter. Societe Generale bought a new stake in shares of Etsy during the second quarter worth about $1,024,000. Finally, SG Americas Securities LLC bought a new stake in shares of Etsy during the second quarter worth about $1,024,000. 58.14% of the stock is owned by institutional investors.
Etsy Inc. (NASDAQ:ETSY) traded down 0.4938% during trading on Wednesday, hitting $15.1946. 111,294 shares of the stock traded hands. The company’s market cap is $1.69 billion. The company’s 50 day moving average price is $14.26 and its 200 day moving average price is $10.96. Etsy Inc. has a 12 month low of $6.04 and a 12 month high of $16.05.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $85.35 million for the quarter, compared to analysts’ expectations of $80.55 million. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts anticipate that Etsy Inc. will post ($0.06) EPS for the current fiscal year.
Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Etsy from $11.50 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. Zacks Investment Research downgraded Etsy from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Citigroup Inc. lifted their price objective on Etsy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 7th. Goldman Sachs Group Inc. lifted their price objective on Etsy from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Finally, Loop Capital assumed coverage on Etsy in a report on Tuesday, September 13th. They issued a “hold” rating and a $14.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Etsy has a consensus rating of “Hold” and a consensus price target of $14.59.
In related news, CEO Chad Dickerson sold 105,289 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $16.00, for a total transaction of $1,684,624.00. Following the completion of the transaction, the chief executive officer now directly owns 857,645 shares in the company, valued at approximately $13,722,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Allspaw sold 63,468 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total value of $793,350.00. Following the transaction, the insider now owns 66,864 shares of the company’s stock, valued at $835,800. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees.
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