Mountain Capital Investment Advisors Inc Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)


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Mountain Capital Investment Advisors Inc acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,432 shares of the specialty retailer’s stock, valued at approximately $811,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new position in Etsy in the 1st quarter worth approximately $1,681,000. Bank of Montreal Can increased its stake in Etsy by 297.1% in the 2nd quarter. Bank of Montreal Can now owns 10,770 shares of the specialty retailer’s stock worth $1,234,000 after purchasing an additional 8,058 shares during the period. Glenmede Trust Co. NA increased its stake in Etsy by 79.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 5,164 shares of the specialty retailer’s stock worth $547,000 after purchasing an additional 2,289 shares during the period. Private Advisor Group LLC purchased a new position in Etsy in the 2nd quarter worth approximately $246,000. Finally, Public Employees Retirement System of Ohio increased its stake in Etsy by 2.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 48,430 shares of the specialty retailer’s stock worth $5,145,000 after purchasing an additional 1,040 shares during the period. 75.30% of the stock is currently owned by institutional investors.

A number of brokerages have commented on ETSY. KeyCorp lifted their price target on Etsy from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, December 11th. Royal Bank of Canada lifted their price target on Etsy from $164.00 to $169.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. BTIG Research lifted their price objective on Etsy from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, December 8th. Oppenheimer lifted their price objective on Etsy from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. Finally, Roth Capital lifted their price objective on Etsy from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $145.77.

In other Etsy news, CMO Ryan M. Scott sold 421 shares of Etsy stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $125.54, for a total transaction of $52,852.34. Following the completion of the transaction, the chief marketing officer now owns 758 shares in the company, valued at $95,159.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 907 shares of Etsy stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $153.88, for a total value of $139,569.16. Following the transaction, the chief accounting officer now owns 1,270 shares of the company’s stock, valued at approximately $195,427.60. The disclosure for this sale can be found here. Insiders have sold 208,921 shares of company stock worth $28,729,974 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

NASDAQ ETSY opened at $207.03 on Thursday. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.65. Etsy, Inc. has a twelve month low of $29.95 and a twelve month high of $211.85. The firm has a market capitalization of $26.10 billion, a PE ratio of 115.02, a P/E/G ratio of 2.82 and a beta of 1.69. The stock’s 50 day moving average is $172.57 and its 200 day moving average is $135.85.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, October 28th. The specialty retailer reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. Etsy had a return on equity of 46.30% and a net margin of 16.83%. The company had revenue of $451.48 million for the quarter, compared to analyst estimates of $418.72 million. On average, research analysts anticipate that Etsy, Inc. will post 2.31 earnings per share for the current year.

About Etsy

Etsy, Inc operates online market places for buyers and sellers primarily in the United States, the United Kingdom, Canada, Australia, France, and Germany. Its online market places include Etsy.com and Reverb.com. The company offers approximately 66 million items in its various retail categories to buyers.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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