Sigma Planning Corp Invests $321,000 in Etsy Inc (ETSY)

Sigma Planning Corp purchased a new stake in shares of Etsy Inc (NASDAQ:ETSY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,768 shares of the specialty retailer’s stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Etsy by 2.9% during the fourth quarter. BlackRock Inc. now owns 8,339,528 shares of the specialty retailer’s stock worth $396,711,000 after acquiring an additional 238,711 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Etsy by 265.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock worth $113,796,000 after acquiring an additional 1,736,734 shares in the last quarter. FMR LLC boosted its stake in Etsy by 68.3% during the fourth quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock worth $89,570,000 after acquiring an additional 763,816 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Etsy by 33.1% during the fourth quarter. 1832 Asset Management L.P. now owns 1,507,000 shares of the specialty retailer’s stock worth $69,924,000 after acquiring an additional 374,900 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Etsy by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock worth $71,275,000 after acquiring an additional 104,042 shares in the last quarter. Institutional investors own 93.69% of the company’s stock.

ETSY opened at $58.82 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.87 and a current ratio of 4.87. Etsy Inc has a 1-year low of $28.60 and a 1-year high of $73.35. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 96.43, a price-to-earnings-growth ratio of 3.61 and a beta of 0.98.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. Etsy had a net margin of 14.74% and a return on equity of 24.24%. The business had revenue of $169.33 million for the quarter, compared to the consensus estimate of $170.72 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. On average, equities analysts anticipate that Etsy Inc will post 0.82 EPS for the current year.

In other Etsy news, insider Michael T. Fisher sold 57,292 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $68.65, for a total value of $3,933,095.80. Following the transaction, the insider now directly owns 84,518 shares in the company, valued at $5,802,160.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Michael T. Fisher sold 2,604 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $69.37, for a total transaction of $180,639.48. Following the completion of the transaction, the chief technology officer now owns 30,968 shares in the company, valued at $2,148,250.16. The disclosure for this sale can be found here. Insiders sold 184,285 shares of company stock worth $12,638,801 over the last quarter. Insiders own 3.00% of the company’s stock.

Several research firms recently commented on ETSY. Zacks Investment Research lowered shares of Etsy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Stifel Nicolaus raised their target price on shares of Etsy from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Morgan Stanley raised their target price on shares of Etsy from $49.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, March 11th. CIBC assumed coverage on shares of Etsy in a report on Friday, March 29th. They issued a “market perform” rating on the stock. Finally, BidaskClub upgraded shares of Etsy from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Etsy currently has an average rating of “Buy” and a consensus target price of $68.87.

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About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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