On September 18, 2023, it was reported that ProShare Advisors LLC had reduced its holdings in Etsy, Inc. (NASDAQ:ETSY) by 12.3% during the first quarter of the year. According to the company’s filing with the SEC, the institutional investor owned 54,321 shares of Etsy’s stock after selling 7,603 shares during the quarter. At the end of the quarter, ProShare Advisors LLC’s holdings in Etsy were valued at $6,048,000.
Etsy is a specialty retailer that offers a platform for individuals and small businesses to sell their unique and handmade goods online. The company recently released its quarterly earnings results on August 2nd. During this period, Etsy reported earnings per share (EPS) of $0.83, surpassing analysts’ consensus estimates of $0.41 by $0.42.
Despite a negative net margin of 26.84% and a negative return on equity of 69.10%, Etsy’s strong EPS performance was notable. The company generated revenue of $628.88 million during the quarter, slightly exceeding analyst estimates of $621.87 million.
Analysts expect Etsy to post earnings per share of 2.73 for the current year on average.
In other news related to Etsy, CEO Josh Silverman sold 10,425 shares of the company’s stock on September 13th at an average price of $64.77 per share. This transaction amounted to a total value of $675,227.25. Following this sale, Silverman now directly owns 14,674 shares in Etsy worth approximately $950,434.98.
These insider sales were disclosed through a document filed with the Securities & Exchange Commission (SEC), accessible via hyperlink provided within this disclosure statement.
Another insider transaction involved Nicholas Daniel, an insider who sold 1,760 shares of Etsy’s stock on July 21st. The shares were sold at an average price of $101.65, resulting in a total transaction value of $178,904.00. Following the completion of this sale, Daniel holds 8,704 shares of Etsy’s stock worth $884,761.60.
In the past ninety days alone, insiders have collectively sold 96,423 shares of company stock, amounting to a total worth of $8,534,347. This represents approximately 2.60% of the company’s stock.
As a specialty retailer that operates primarily online, Etsy has become a popular platform for sellers and buyers alike. The company’s ability to surpass earnings expectations may be an indicator of its strong market position and continued growth potential in the future.
Ovintiv Inc.
OVV
Strong Buy
Updated on: 29/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Buy
Investor Interest, Volatility, and Analyst Opinions: Navigating the Evolving Landscape of Etsy
In recent months, several large investors have made notable changes to their positions in Etsy, the popular specialty retailer. One such investor, Park Place Capital Corp, announced a 15.2% increase in its stake in the company during the first quarter of this year. This move saw the corporation’s ownership of Etsy shares rise to 1,053, with an estimated value of $117,000.
Another investor that showed interest in Etsy was Quantinno Capital Management LP, which increased its position in the company by 7.0% during the same period. Quantinno now holds 3,830 shares of Etsy stock with an approximate worth of $426,000.
In contrast to these two investors who added to their holdings in Etsy, AustralianSuper Pty Ltd initiated a new position in the company during the first quarter. The investment firm reportedly acquired shares valued at approximately $9,763,000.
Similarly, Victory Capital Management Inc. raised its position in Etsy by 3.5% during this timeframe and now owns 109,706 shares worth $12,214,000.
Perhaps the most astonishing change came from Pacer Advisors Inc., whose investment position grew by an astounding 4,127.7%. This resulted from their purchase of an additional 103,027 shares valued at $11,748,000.
These transactions indicate that institutional investors currently hold a significant stake amounting to approximately 92.98% of all Etsy stock available on the market.
When considering these investments and the overall state of Etsy as a publicly traded company on September 18th of this year when it opened at $64.94 per share one cannot help but wonder about the future trajectory of this enterprise.
As we delve deeper into Etsy’s financials over timeframes like the previous fifty days or even two hundred days up until September 18th we find intriguing patterns emerging that create a sense of perplexity within investors.
The fifty-day moving average price of Etsy’s shares stands at $81.36, while the two hundred-day moving average price is slightly higher at $91.75. These figures indicate that the stock has experienced a decline over these periods.
Furthermore, Etsy has a market capitalization worth $7.99 billion and displays a negative P/E ratio of -11.06. Its price-to-earnings-growth (PEG) ratio is 3.28, suggesting that the company’s earnings may be growing at a relatively slow pace compared to its stock value.
In terms of volatility, Etsy exhibits a beta of 2.03, which indicates that its share price is more volatile than the overall stock market.
Considering its one-year trading range between $63.51 and $149.91 per share as of September 18th, it becomes apparent that Etsy has endured significant fluctuations in its stock price over the past year.
This highlights the need for caution when investing in Etsy since fluctuations like these could impact investors’ decision-making processes significantly.
In light of recent developments regarding Etsy’s financial performance and investor sentiment, various equities analysts have expressed their opinions on the company’s outlook.
One such analyst from BTIG Research lowered their target price on Etsy shares from $130 to $108 on June 30th this year but maintained a “buy” rating for the stock.
On July 25th, Jefferies Financial Group raised their price target for Etsy from $75 to $80 but issued an “underperform” rating for the company due to concerns about its performance relative to its sector peers.
Another research firm, TheStreet, downgraded Etsy from a “c-” rating to a “d+” rating on May 23rd this year.
Bank of America also revised their price target for Etsy shares downwards from $123 to $110 on July 28th.
Lastly, Piper Sandler reduced their price target for the stock from $140 to $126 on August 3rd but maintained an “overweight” rating.
Taking into account the consensus rating of “Hold” and an average price target of $114.54, as determined by Bloomberg’s data, it is clear that mixed opinions exist regarding the future performance of Etsy.
In conclusion, with recent changes in investor positions, mixed analyst ratings, and its fluctuating stock price within an evolving market, Etsy remains a topic of great interest and debate. Investors are advised to approach this specialty retailer’s stock with a substantial degree of caution and to conduct thorough analysis before making any investment decisions.
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