Manchester Capital Management LLC boosted its holdings in shares of Etsy Inc (NASDAQ:ETSY) by 122.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,730 shares of the specialty retailer’s stock after purchasing an additional 1,500 shares during the quarter. Manchester Capital Management LLC’s holdings in Etsy were worth $184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its stake in Etsy by 2.9% during the 4th quarter. BlackRock Inc. now owns 8,339,528 shares of the specialty retailer’s stock valued at $396,711,000 after purchasing an additional 238,711 shares during the period. Lord Abbett & CO. LLC raised its stake in Etsy by 265.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,392,175 shares of the specialty retailer’s stock valued at $113,796,000 after purchasing an additional 1,736,734 shares during the period. FMR LLC raised its stake in Etsy by 68.3% during the 4th quarter. FMR LLC now owns 1,882,900 shares of the specialty retailer’s stock valued at $89,570,000 after purchasing an additional 763,816 shares during the period. 1832 Asset Management L.P. raised its stake in Etsy by 33.1% during the 4th quarter. 1832 Asset Management L.P. now owns 1,507,000 shares of the specialty retailer’s stock valued at $69,924,000 after purchasing an additional 374,900 shares during the period. Finally, Geode Capital Management LLC raised its stake in Etsy by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,498,337 shares of the specialty retailer’s stock valued at $71,275,000 after purchasing an additional 104,042 shares during the period.
Several analysts recently issued reports on ETSY shares. BidaskClub upgraded Etsy from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. ValuEngine cut Etsy from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus raised their price target on Etsy from $58.00 to $62.00 and gave the company a “hold” rating in a report on Thursday, May 9th. Finally, Roth Capital raised their price target on Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $68.87.
Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, May 8th. The specialty retailer reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.10. The firm had revenue of $169.33 million during the quarter, compared to analysts’ expectations of $170.72 million. Etsy had a return on equity of 24.24% and a net margin of 14.74%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, research analysts forecast that Etsy Inc will post 0.82 EPS for the current fiscal year.
In other news, insider Michael T. Fisher sold 57,292 shares of Etsy stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $68.65, for a total value of $3,933,095.80. Following the completion of the transaction, the insider now owns 84,518 shares in the company, valued at approximately $5,802,160.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael T. Fisher sold 46,874 shares of Etsy stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $65.00, for a total value of $3,046,810.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,285 shares of company stock valued at $12,638,801. Company insiders own 3.00% of the company’s stock.
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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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