MAI Capital Management Lowers Holdings in Etsy Inc (ETSY)

MAI Capital Management lowered its position in shares of Etsy Inc (NASDAQ:ETSY) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,210 shares of the specialty retailer’s stock after selling 1,000 shares during the quarter. MAI Capital Management’s holdings in Etsy were worth $888,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ETSY. Cornerstone Advisors Inc. acquired a new position in Etsy in the 3rd quarter valued at approximately $29,000. Quadrant Capital Group LLC acquired a new position in Etsy in the 1st quarter valued at approximately $30,000. Optimum Investment Advisors acquired a new position in Etsy in the 4th quarter valued at approximately $33,000. Quantamental Technologies LLC acquired a new position in Etsy in the 4th quarter valued at approximately $43,000. Finally, First Quadrant L P CA acquired a new position in Etsy in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 93.69% of the company’s stock.

Shares of NASDAQ ETSY traded down $1.20 during trading hours on Wednesday, hitting $64.01. 885,323 shares of the stock were exchanged, compared to its average volume of 2,724,149. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.81. The company has a market cap of $7.86 billion, a P/E ratio of 104.93, a P/E/G ratio of 3.96 and a beta of 0.98. Etsy Inc has a one year low of $28.60 and a one year high of $73.35.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.10. The business had revenue of $169.33 million during the quarter, compared to the consensus estimate of $170.72 million. Etsy had a net margin of 14.74% and a return on equity of 24.24%. Etsy’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. Equities research analysts forecast that Etsy Inc will post 0.82 EPS for the current fiscal year.

In other Etsy news, SVP Goyal Kruti Patel sold 3,753 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $69.69, for a total value of $261,546.57. Following the completion of the sale, the senior vice president now directly owns 16,389 shares of the company’s stock, valued at approximately $1,142,149.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael T. Fisher sold 57,292 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $68.65, for a total transaction of $3,933,095.80. Following the completion of the sale, the insider now directly owns 84,518 shares of the company’s stock, valued at $5,802,160.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,285 shares of company stock valued at $12,638,801. 3.00% of the stock is owned by insiders.

Several brokerages have recently commented on ETSY. Citigroup restated a “buy” rating and set a $80.00 price target on shares of Etsy in a research note on Tuesday, February 26th. KeyCorp increased their price target on shares of Etsy from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 8th. ValuEngine lowered shares of Etsy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research lowered shares of Etsy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Loop Capital increased their price target on shares of Etsy from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Etsy currently has an average rating of “Buy” and a consensus price target 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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