DORCHESTER WEALTH MANAGEMENT Co Invests $214,000 in Etsy, Inc. (NASDAQ:ETSY)

DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,850 shares of the specialty retailer’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. Blue Trust Inc. grew its stake in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. UMB Bank n.a. increased its holdings in Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Etsy during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ ETSY traded up $0.19 during trading on Thursday, hitting $49.83. The company had a trading volume of 385,758 shares, compared to its average volume of 3,712,313. Etsy, Inc. has a 52 week low of $48.07 and a 52 week high of $89.58. The business’s 50-day moving average is $53.30 and its 200 day moving average is $58.97. The company has a market cap of $5.83 billion, a P/E ratio of 22.67, a PEG ratio of 4.99 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. During the same period last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that Etsy, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wolfe Research began coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Truist Financial reiterated a “buy” rating and set a $76.00 price target on shares of Etsy in a research report on Tuesday, September 24th. Loop Capital cut their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company decreased their target price on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Finally, Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $66.83.

Insider Buying and Selling at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now owns 18,833 shares in the company, valued at $1,125,083.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,619 shares of company stock valued at $300,670. 2.60% of the stock is currently owned by corporate insiders.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. 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.