Crossmark Global Holdings Inc. Purchases 79,888 Shares of Etsy Inc $ETSY

Crossmark Global Holdings Inc. lifted its position in shares of Etsy Inc (NYSE:ETSY) by 338.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,497 shares of the company’s stock after buying an additional 79,888 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Etsy were worth $5,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lone Pine Capital LLC acquired a new stake in Etsy in the 3rd quarter worth about $257,614,000. Van ECK Associates Corp grew its position in shares of Etsy by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,695,089 shares of the company’s stock worth $245,317,000 after purchasing an additional 48,236 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Etsy by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,611,431 shares of the company’s stock worth $89,338,000 after purchasing an additional 59,123 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Etsy by 5.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,056 shares of the company’s stock worth $62,278,000 after purchasing an additional 51,556 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Etsy by 1,648.1% during the third quarter. Allianz Asset Management GmbH now owns 706,679 shares of the company’s stock worth $46,916,000 after purchasing an additional 666,253 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In related news, CFO Charles Baker sold 2,030 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total value of $128,905.00. Following the completion of the transaction, the chief financial officer owned 6,913 shares of the company’s stock, valued at $438,975.50. This represents a 22.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Josh Silverman sold 88,350 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the completion of the sale, the insider owned 130,694 shares in the company, valued at $8,387,940.92. This represents a 40.33% decrease in their position. 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 have sold 278,569 shares of company stock valued at $17,724,416. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETSY shares. Canaccord Genuity Group boosted their price target on Etsy from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Needham & Company LLC raised their price objective on Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays lifted their price objective on Etsy from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore set a $72.00 target price on Etsy in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Etsy from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus target price of $70.09.

Etsy Stock Performance

Shares of ETSY opened at $64.33 on Monday. Etsy Inc has a 52-week low of $44.00 and a 52-week high of $76.51. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 5.74 and a beta of 1.89. The firm has a fifty day simple moving average of $56.14.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The business had revenue of $881.64 million for the quarter. On average, equities analysts expect that Etsy Inc will post 3.74 earnings per share for the current fiscal year.

Etsy 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.