Sara Bay Financial Sells 365 Shares of Etsy, Inc. (NASDAQ:ETSY) - Defense World

Summary

Sara Bay Financial reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,300 shares of the specialty retailer’s stock after selling 365 shares during the quarter. Etsy accounts for approximately 2.8% of Sara Bay Financial’s portfolio, making the stock its 12th largest holding. Sara Bay Financial’s holdings in Etsy were worth $7,121,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Etsy during the fourth quarter worth about $223,388,000. Capital International Investors boosted its holdings in shares of Etsy by 72.8% during the fourth quarter. Capital International Investors now owns 1,369,536 shares of the specialty retailer’s stock worth $299,846,000 after purchasing an additional 577,075 shares during the period. Flossbach Von Storch AG boosted its holdings in shares of Etsy by 19.6% during the fourth quarter. Flossbach Von Storch AG now owns 2,618,168 shares of the specialty retailer’s stock worth $573,222,000 after purchasing an additional 428,777 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $90,003,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Etsy by 16.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,331,444 shares of the specialty retailer’s stock worth $509,716,000 after purchasing an additional 329,322 shares during the period. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Sara Bay Financial reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,300 shares of the specialty retailer’s stock after selling 365 shares during the quarter. Etsy accounts for approximately 2.8% of Sara Bay Financial’s portfolio, making the stock its 12th largest holding. Sara Bay Financial’s holdings in Etsy were worth $7,121,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Etsy during the fourth quarter worth about $223,388,000. Capital International Investors boosted its holdings in shares of Etsy by 72.8% during the fourth quarter. Capital International Investors now owns 1,369,536 shares of the specialty retailer’s stock worth $299,846,000 after purchasing an additional 577,075 shares during the period. Flossbach Von Storch AG boosted its holdings in shares of Etsy by 19.6% during the fourth quarter. Flossbach Von Storch AG now owns 2,618,168 shares of the specialty retailer’s stock worth $573,222,000 after purchasing an additional 428,777 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $90,003,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Etsy by 16.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,331,444 shares of the specialty retailer’s stock worth $509,716,000 after purchasing an additional 329,322 shares during the period. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

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In other Etsy news, CAO Merilee Buckley sold 655 shares of Etsy stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $132.54, for a total value of $86,813.70. Following the completion of the sale, the chief accounting officer now owns 171 shares of the company’s stock, valued at approximately $22,664.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $116.54, for a total transaction of $2,429,859.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at approximately $11,969,473.78. The disclosure for this sale can be found here. Insiders have sold 92,525 shares of company stock valued at $8,853,475 in the last three months. 3.10% of the stock is owned by insiders.

Shares of ETSY opened at $72.00 on Wednesday. The company has a market capitalization of $9.15 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 3.52. The firm has a 50 day moving average of $88.09 and a 200 day moving average of $136.79. Etsy, Inc. has a twelve month low of $67.01 and a twelve month high of $307.75.

Etsy (NASDAQ:ETSY – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $579.30 million during the quarter, compared to the consensus estimate of $574.71 million. Etsy had a net margin of 18.49% and a return on equity of 73.57%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. On average, sell-side analysts expect that Etsy, Inc. will post 2 EPS for the current year.

A number of research firms have recently weighed in on ETSY. Truist Financial dropped their target price on shares of Etsy from $220.00 to $150.00 in a report on Monday, May 9th. Oppenheimer lowered their price objective on shares of Etsy from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, June 16th. UBS Group lowered their price objective on shares of Etsy from $180.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, June 3rd. StockNews.com lowered shares of Etsy from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Finally, Sanford C. Bernstein began coverage on shares of Etsy in a report on Monday, May 23rd. They issued an “outperform” rating and a $105.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Moderate Buy” and a consensus price target of $161.50.

About Etsy (Get Rating)

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.

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Sara Bay Financial Sells 365 Shares of Etsy, Inc. (NASDAQ:ETSY) - Defense World
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