7,391 Shares in Etsy Inc $ETSY Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new position in Etsy Inc (NYSE:ETSY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,391 shares of the company’s stock, valued at approximately $528,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ETSY. William Blair Investment Management LLC bought a new position in shares of Etsy in the second quarter valued at approximately $120,417,000. Arrowstreet Capital Limited Partnership grew its holdings in Etsy by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after buying an additional 1,112,520 shares in the last quarter. Findlay Park Partners LLP bought a new stake in Etsy during the second quarter worth $66,170,000. Renaissance Technologies LLC grew its holdings in Etsy by 11.1% during the first quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after buying an additional 594,768 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Etsy in the 2nd quarter valued at $42,781,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETSY. Oppenheimer upgraded Etsy from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Tuesday, September 15th. B. Riley Financial upped their target price on shares of Etsy from $82.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Piper Sandler upped their target price on shares of Etsy from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Etsy from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Loop Capital set a $105.00 price target on shares of Etsy in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $94.07.

Etsy Stock Up 0.2%

ETSY stock opened at $90.08 on Monday. The firm has a market cap of $7.77 billion, a PE ratio of 10.63, a P/E/G ratio of 2.53 and a beta of 1.75. The business has a 50 day moving average of $79.61 and a 200-day moving average of $68.98. Etsy Inc has a 12-month low of $44.00 and a 12-month high of $97.85.

Etsy (NYSE:ETSY) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $7.31 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $6.55. The business had revenue of $692.47 million for the quarter, compared to analyst estimates of $669.04 million. Etsy had a negative return on equity of 43.65% and a net margin of 34.36%. Etsy’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, research analysts expect that Etsy Inc will post 4.31 earnings per share for the current year.

Insider Transactions at Etsy

In other news, Director Charles Ballard sold 4,500 shares of Etsy stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $81.85, for a total transaction of $368,325.00. Following the sale, the director directly owned 4,239 shares in the company, valued at $346,962.15. The trade was a 51.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick R. Wilson sold 28,527 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $91.39, for a total transaction of $2,607,082.53. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at $36,556,000. This trade represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 134,656 shares of company stock worth $11,765,784. Company insiders own 2.50% of the company’s stock.

About Etsy