Arkadios Wealth Advisors Invests $482,000 in Etsy, Inc. (NASDAQ:ETSY)

Key Points

• Arkadios Wealth Advisors has invested approximately $482,000 in Etsy, acquiring 10,212 shares in the first quarter.
• Insider trading activity includes CTO Richard Edward Colburn III and Director Melissa Reiff both selling significant portions of their shares, resulting in a total insider ownership of just 2.80%.
• Analyst ratings for Etsy show a mix of opinions, with price targets ranging from $48.00 to $72.00, reflecting a consensus rating of "Hold" with a target of $56.76.

Arkadios Wealth Advisors purchased a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,212 shares of the specialty retailer's stock, valued at approximately $482,000.

Several other large investors also recently modified their holdings of ETSY. Allworth Financial LP increased its stake in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 248 shares in the last quarter. True Wealth Design LLC increased its holdings in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Etsy by 39.4% in the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock valued at $91,000 after purchasing an additional 545 shares in the last quarter. Covestor Ltd grew its holdings in Etsy by 38.3% during the fourth quarter. Covestor Ltd now owns 2,318 shares of the specialty retailer's stock worth $123,000 after buying an additional 642 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Etsy during the 4th quarter valued at $34,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Up 7.6%

Shares of NASDAQ:ETSY traded up $4.29 on Thursday, hitting $60.49. The company had a trading volume of 5,732,385 shares, compared to its average volume of 4,828,313. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $68.45. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 48.78, a P/E/G ratio of 3.55 and a beta of 1.73. The firm's 50-day simple moving average is $57.31 and its two-hundred day simple moving average is $51.52.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million for the quarter, compared to the consensus estimate of $645.16 million. During the same quarter last year, the firm posted $0.41 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $58.76, for a total value of $1,273,094.16. Following the transaction, the chief executive officer directly owned 62,674 shares in the company, valued at $3,682,724.24. This trade represents a 25.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $58.79, for a total transaction of $88,185.00. Following the sale, the insider owned 33,183 shares in the company, valued at $1,950,828.57. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 355,024 shares of company stock valued at $21,368,211. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETSY. Stifel Nicolaus increased their target price on shares of Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. The Goldman Sachs Group decreased their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC increased their price objective on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Truist Financial upped their price target on Etsy from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Arete upgraded Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Etsy has an average rating of "Hold" and an average target price of $57.20.

Etsy Profile

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.