Etsy, Inc. (ETSY) Stake Boosted by Credit Suisse AG
Credit Suisse AG raised its stake in Etsy, Inc. (NASDAQ:ETSY) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,519 shares of the specialty retailer’s stock after buying an additional 14,894 shares during the period. Credit Suisse AG owned about 0.12% of Etsy worth $1,377,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC acquired a new position in shares of Etsy during the first quarter valued at approximately $301,000. Creative Planning increased its position in shares of Etsy by 77.4% in the first quarter. Creative Planning now owns 12,053 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 5,258 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Etsy during the fourth quarter valued at approximately $401,000. Soros Fund Management LLC acquired a new position in shares of Etsy during the first quarter valued at approximately $510,000. Finally, Vanguard Group Inc. increased its position in shares of Etsy by 4.8% in the first quarter. Vanguard Group Inc. now owns 7,547,529 shares of the specialty retailer’s stock valued at $80,230,000 after buying an additional 346,034 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors.
Etsy, Inc. (ETSY) traded up 0.480% during mid-day trading on Wednesday, hitting $15.715. The stock had a trading volume of 429,516 shares. The firm’s market capitalization is $1.74 billion. Etsy, Inc. has a one year low of $9.41 and a one year high of $16.69. The stock’s 50 day moving average price is $14.96 and its 200 day moving average price is $12.65.
Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The business had revenue of $101.70 million during the quarter, compared to analysts’ expectations of $101.14 million. Etsy had a positive return on equity of 3.83% and a negative net margin of 3.16%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. Analysts forecast that Etsy, Inc. will post $0.28 EPS for the current year.
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Several research analysts have commented on ETSY shares. Zacks Investment Research downgraded Etsy from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. TheStreet raised Etsy from a “d” rating to a “c-” rating in a research report on Wednesday, May 24th. Maxim Group set a $17.00 price target on Etsy and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Loop Capital reaffirmed a “buy” rating and issued a $13.00 price target (down from $16.00) on shares of Etsy in a research report on Wednesday, May 3rd. Finally, BidaskClub downgraded Etsy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.33.
In other news, CEO Josh Silverman purchased 64,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $15.67 per share, with a total value of $1,002,880.00. Following the acquisition, the chief executive officer now owns 64,000 shares in the company, valued at approximately $1,002,880. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.
Etsy Company Profile
Etsy, Inc (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy goods. The Company offers a range of seller services and tools that help entrepreneurs start, grow and manage their businesses. The Company’s community includes Etsy sellers, Etsy buyers, Etsy employees, its partners and investors.
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