Mitchell Capital Management Co. Has $1.48 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Mitchell Capital Management Co. grew its holdings in Etsy, Inc. (NASDAQ:ETSY) by 8.2% during the second quarter, Holdings Channel.com reports. The firm owned 7,201 shares of the specialty retailer’s stock after buying an additional 548 shares during the period. Mitchell Capital Management Co.’s holdings in Etsy were worth $1,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ETSY. Corsicana & Co. bought a new stake in shares of Etsy in the 2nd quarter valued at approximately $25,000. Harbour Investments Inc. bought a new stake in Etsy during the first quarter worth approximately $28,000. Allred Capital Management LLC bought a new stake in Etsy during the first quarter worth approximately $32,000. E Fund Management Co. Ltd. bought a new stake in Etsy during the first quarter worth approximately $45,000. Finally, Capital Analysts LLC boosted its position in Etsy by 109.1% during the second quarter. Capital Analysts LLC now owns 230 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 120 shares during the period. Institutional investors own 87.30% of the company’s stock.

A number of brokerages have issued reports on ETSY. Jefferies Financial Group decreased their target price on Etsy from $260.00 to $245.00 and set a “buy” rating for the company in a research report on Wednesday, June 9th. Roth Capital lowered Etsy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $245.00 to $180.00 in a research note on Thursday, August 5th. Zacks Investment Research upgraded Etsy from a “sell” rating to a “hold” rating and set a $190.00 price target on the stock in a report on Monday, August 9th. DA Davidson reduced their target price on Etsy from $234.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of Etsy in a research report on Monday, August 2nd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $223.64.

In related news, insider Goyal Kruti Patel sold 6,800 shares of the company’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $200.63, for a total value of $1,364,284.00. Following the completion of the transaction, the insider now owns 39,121 shares of the company’s stock, valued at approximately $7,848,846.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Merilee Buckley sold 908 shares of the stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $200.00, for a total transaction of $181,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,400 shares of company stock worth $7,455,878. Insiders own 3.30% of the company’s stock.

Etsy stock opened at $214.31 on Wednesday. The firm has a market capitalization of $27.13 billion, a P/E ratio of 61.94, a PEG ratio of 3.71 and a beta of 1.62. Etsy, Inc. has a one year low of $104.30 and a one year high of $251.86. The business has a fifty day moving average price of $199.58 and a 200-day moving average price of $194.76. The company has a debt-to-equity ratio of 4.36, a current ratio of 6.61 and a quick ratio of 6.61.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, August 4th. The specialty retailer reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. Etsy had a return on equity of 73.54% and a net margin of 22.45%. The business had revenue of $528.90 million for the quarter, compared to the consensus estimate of $525.70 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts expect that Etsy, Inc. will post 2.97 earnings per share for the current fiscal year.

Etsy Company Profile

Etsy, Inc engages in the operation of online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following geographical segments: United States, United Kingdom, and Other International. The company was founded by Haim Schoppik, Robert Kalin, Jared Tarbell, and Christopher Maguires in 2005 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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