Hillman Co. Increases Position in Etsy Inc. (ETSY)
Hillman Co. boosted its position in shares of Etsy Inc. (NASDAQ:ETSY) by 11.4% during the second quarter, Holdings Channel reports. The firm owned 988,238 shares of the company’s stock after buying an additional 101,468 shares during the period. Etsy makes up about 4.7% of Hillman Co.’s holdings, making the stock its 9th largest position. Hillman Co. owned 0.89% of Etsy worth $9,477,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Etsy by 42.6% in the first quarter. JPMorgan Chase & Co. now owns 543,251 shares of the company’s stock valued at $4,726,000 after buying an additional 162,213 shares during the last quarter. ICM Asset Management Inc. WA bought a new stake in shares of Etsy during the first quarter valued at approximately $321,000. Bank of Montreal Can bought a new stake in shares of Etsy during the second quarter valued at approximately $280,000. State Street Corp boosted its stake in shares of Etsy by 8.2% in the first quarter. State Street Corp now owns 289,808 shares of the company’s stock valued at $2,523,000 after buying an additional 21,896 shares during the last quarter. Finally, Hamilton Lane Advisors LLC boosted its stake in shares of Etsy by 6.6% in the second quarter. Hamilton Lane Advisors LLC now owns 352,959 shares of the company’s stock valued at $3,265,000 after buying an additional 21,884 shares during the last quarter. Institutional investors own 58.14% of the company’s stock.
Shares of Etsy Inc. (NASDAQ:ETSY) traded up 1.12% during trading on Tuesday, reaching $13.51. 1,072,735 shares of the company traded hands. The firm has a 50 day moving average of $13.83 and a 200 day moving average of $10.33. Etsy Inc. has a 52 week low of $6.04 and a 52 week high of $15.34. The stock’s market capitalization is $1.50 billion.
Etsy (NASDAQ:ETSY) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. Etsy had a negative return on equity of 3.08% and a negative net margin of 5.37%. The firm had revenue of $85.35 million for the quarter, compared to analysts’ expectations of $80.55 million. During the same period last year, the firm earned ($0.07) earnings per share. Etsy’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities analysts predict that Etsy Inc. will post ($0.06) EPS for the current year.
Several analysts have commented on the stock. TheStreet upgraded shares of Etsy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. RBC Capital Markets restated a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Etsy in a report on Friday, August 5th. Zacks Investment Research downgraded shares of Etsy from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Loop Capital began coverage on shares of Etsy in a report on Tuesday, September 13th. They issued a “hold” rating and a $14.00 target price on the stock. Finally, Morgan Stanley restated an “equal weight” rating and issued a $13.50 target price (up from $11.50) on shares of Etsy in a report on Monday, September 12th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Etsy presently has a consensus rating of “Hold” and a consensus target price of $13.37.
In other Etsy news, insider John Allspaw sold 63,468 shares of Etsy stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.50, for a total transaction of $793,350.00. Following the transaction, the insider now directly owns 66,864 shares of the company’s stock, valued at $835,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick R. Wilson sold 216,399 shares of Etsy stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $13.61, for a total transaction of $2,945,190.39. Following the transaction, the director now directly owns 822,062 shares in the company, valued at $11,188,263.82. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
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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