PYA Waltman Capital LLC Increases Holdings in Etsy, Inc. (NASDAQ:ETSY)

Posted by Amelie Mason on Aug 6th, 2022

PYA Waltman Capital LLC lifted its position in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 10.1% in the 1st quarter, HoldingsChannel reports. The firm owned 26,571 shares of the specialty retailer’s stock after purchasing an additional 2,441 shares during the quarter. Etsy makes up about 1.6% of PYA Waltman Capital LLC’s portfolio, making the stock its 19th largest position. PYA Waltman Capital LLC’s holdings in Etsy were worth $3,302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ETSY. Flossbach Von Storch AG grew its holdings in 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 acquiring an additional 428,777 shares during the period. Geode Capital Management LLC grew its holdings in Etsy by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,416,793 shares of the specialty retailer’s stock worth $527,854,000 after acquiring an additional 94,302 shares during the period. Principal Financial Group Inc. grew its holdings in 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 acquiring an additional 329,322 shares during the period. Brown Advisory Inc. grew its holdings in Etsy by 9.7% during the first quarter. Brown Advisory Inc. now owns 1,826,882 shares of the specialty retailer’s stock worth $230,228,000 after acquiring an additional 162,162 shares during the period. Finally, Capital International Investors grew its holdings in 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 acquiring an additional 577,075 shares during the period. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $107.80, for a total value of $2,247,630.00. Following the sale, the chief executive officer now owns 102,707 shares in the company, valued at $11,071,814.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $107.80, for a total value of $2,247,630.00. Following the completion of the sale, the chief executive officer now directly owns 102,707 shares of the company’s stock, valued at $11,071,814.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Ryan M. Scott sold 712 shares of Etsy stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $100.00, for a total value of $71,200.00. The disclosure for this sale can be found here. Insiders have sold 132,130 shares of company stock worth $11,368,022 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on ETSY shares. BTIG Research raised their target price on Etsy from $105.00 to $122.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Etsy from $100.00 to $90.00 in a report on Thursday, July 21st. JMP Securities reissued a “mkt outperform” rating and issued a $125.00 price objective on shares of Etsy in a report on Wednesday, June 1st. Oppenheimer raised their price objective on Etsy from $120.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Finally, Needham & Company LLC lowered Etsy from a “buy” rating to a “hold” rating in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy currently has an average rating of “Moderate Buy” and a consensus price target of $129.95.

Etsy Stock Performance

Shares of Etsy stock opened at $109.38 on Friday. Etsy, Inc. has a one year low of $67.01 and a one year high of $307.75. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 5.06 and a beta of 1.88. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.93 and a current ratio of 2.93. The business’s 50 day moving average price is $85.64 and its 200 day moving average price is $109.86.

Etsy (NASDAQ:ETSY – Get Rating) last posted its earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The company had revenue of $585.20 million for the quarter, compared to the consensus estimate of $556.85 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts predict that Etsy, Inc. will post 2.19 EPS for the current year.

About Etsy

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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.