Cooper Financial Group Has $275,000 Position in Etsy, Inc. $ETSY

Cooper Financial Group lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 71.1% during the second quarter, Holdings Channel reports. The fund owned 5,481 shares of the specialty retailer’s stock after selling 13,481 shares during the quarter. Cooper Financial Group’s holdings in Etsy were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ETSY. Signaturefd LLC lifted its position in shares of Etsy by 52.7% during the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 192 shares during the period. Allworth Financial LP lifted its position in shares of Etsy by 47.6% during the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 248 shares during the period. SVB Wealth LLC acquired a new position in shares of Etsy during the 1st quarter valued at $36,000. Brooklyn Investment Group lifted its position in shares of Etsy by 842.2% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 699 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Etsy during the 1st quarter valued at $70,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald upped their price objective on shares of Etsy from $52.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Etsy from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Stifel Nicolaus upped their price objective on shares of Etsy from $45.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Wells Fargo & Company upped their price objective on shares of Etsy from $41.00 to $57.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Finally, Arete Research upgraded shares of Etsy from a “strong sell” rating to a “hold” rating in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $58.69.

Etsy Price Performance

Shares of ETSY stock opened at $72.54 on Friday. The firm has a 50-day moving average of $60.87 and a 200-day moving average of $54.12. The company has a market cap of $7.19 billion, a P/E ratio of 58.50, a P/E/G ratio of 4.49 and a beta of 1.85. Etsy, Inc. has a one year low of $40.05 and a one year high of $75.77.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The company had revenue of $672.66 million for the quarter, compared to the consensus estimate of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In related news, insider Goyal Kruti Patel sold 11,944 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $59.31, for a total transaction of $708,398.64. Following the completion of the transaction, the insider owned 47,529 shares in the company, valued at approximately $2,818,944.99. This represents a 20.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melissa Reiff sold 6,909 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $58.89, for a total transaction of $406,871.01. Following the transaction, the director owned 16,424 shares of the company’s stock, valued at approximately $967,209.36. The trade was a 29.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,316 shares of company stock valued at $33,365,669 in the last 90 days. 2.80% of the stock is currently owned by company insiders.

Etsy Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.