In a recent SEC filing, the Bleakley Financial Group LLC declared that it had purchased 3,013 shares of Etsy Inc. (NASDAQ:ETSY). The specialty retailer’s stock is currently valued at approximately $361,000.

Etsy Inc. is an online marketplace that offers a range of handmade products such as shoes, clothing, bags, and accessories. With more than fifteen years in the business, Etsy has established itself as one of the most popular platforms for artisans and creators to showcase their work.

Shares of Etsy opened at $92.78 on Tuesday, standing true to its strengths in the market. This firm boasts a market cap of $11.57 billion with a PE ratio of -15.97 and an impressive beta score of 1.99.

Despite experiencing some turbulence due to the ongoing pandemic crisis, Etsy has managed to maintain its strength in the industry with a P/E/G ratio of 5.97. Furthermore, it enjoys both long-term investment and trading potential given its solid performance indicators.

The company’s track record speaks for itself – Etsy had a year-long low of $67.01 yet managed to surpass investor expectations by hitting a year-long high of $149.91 in the past year alone.

Currently headquartered in New York City since its inception back in 2005, Etsy continues to inspire creators from all over the world to showcase their unique work and connect with buyers looking for originality.

In conclusion, Bleakley Financial Group LLC’s move indicates that they have made quite a strategic step here with countless benefits which could impact them positively in the long term. As per data on May 9th, 2023; observers could continue watching how this story unfolds for not only Bleakley but also for other investors as well who might take cues from this move towards purchasing stocks from online platforms such as Etsy Inc.-which despite industry upheaval-continues showing steady value.

Etsy sees changes to institutional investor positions as earnings beat estimates

Etsy, Inc., the online marketplace for handmade products, has seen changes to the positions of hedge funds and other institutional investors in its stock. During the third quarter, Evoke Wealth LLC boosted its stake in Etsy by 304.6%, bringing its position to 530 shares with a value of $53,000. At the same time, Apollon Wealth Management LLC lifted its position by 8.3% to reach 3,534 shares worth $354,000. Bessemer Group Inc. increased its holdings by 12.4% to own 6,429 shares valued at $644,000; Moloney Securities Asset Management LLC bought a stake worth about $218,000 and Caisse DE Depot ET Placement DU Quebec grew its position in Etsy by 57.9% to own 10,816 shares worth $1,083,000 during the third quarter. Institutional investors now own 95.46% of Etsy’s stock.

CEO Josh Silverman sold nearly $2.2m worth of Etsy shares on March 29th after selling more than $9.6m of stock last quarter alongside other insiders making further sales totaling around $103k in mid-April alone.

In May this year, Etsy reported quarterly earnings that beat analysts’ estimates where revenue reached over $640 million compared to analyst predictions of around $620 million; while net income was higher than consensus expectations: earning USD0.53 per share compared with an expectation of USD0.48 per share.

Several analysts have featured Etsy in recent reports; among them is Barclays which reduced their price target from $100 to $98 citing developments with Amazon’s competing service: Handmade.

Despite this development, Loop Capital believes that there are better days ahead for Etsy—albeit ones that might be overshadowed by growing ‘competition and search engine headwinds’. BTIG Research lowered their target on April 19th from $144 to $130, however maintains their “buy” rating for the company. Overall, there is a consensus rating of ‘Moderate Buy’ on Etsy with analysts forecasting revenues should rise to around USD2.39 per share this year.

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