Earned Wealth Advisors LLC Makes New $238,000 Investment in Etsy, Inc. (NASDAQ:ETSY)

Key Points

• Earned Wealth Advisors LLC has acquired a new investment in Etsy, Inc., purchasing 5,038 shares valued at approximately $238,000 during the first quarter of the year.
• Multiple large investors, including Assenagon Asset Management and Victory Capital Management, have significantly increased their holdings in Etsy, reflecting strong institutional interest.
• Etsy reported a quarterly earnings miss, with earnings per share of $0.25, falling short of analysts' expectations of $0.54, while revenue rose by 3.8% year-over-year to $672.66 million.

Earned Wealth Advisors LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,038 shares of the specialty retailer's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its position in Etsy by 83.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,455 shares of the specialty retailer's stock valued at $447,000 after purchasing an additional 3,843 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Etsy by 162.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,500 shares of the specialty retailer's stock worth $132,000 after acquiring an additional 1,548 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Etsy during the fourth quarter valued at approximately $599,000. Cerity Partners LLC grew its stake in Etsy by 32.9% in the fourth quarter. Cerity Partners LLC now owns 30,412 shares of the specialty retailer's stock valued at $1,626,000 after purchasing an additional 7,528 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after purchasing an additional 235,550 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ETSY shares. Truist Financial boosted their target price on shares of Etsy from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Citizens Jmp upgraded Etsy to a "hold" rating in a research note on Thursday, July 10th. Morgan Stanley upped their price objective on shares of Etsy from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Sanford C. Bernstein upped their target price on Etsy from $45.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $57.20.

Etsy Price Performance

Shares of ETSY stock traded up $4.29 during trading hours on Thursday, reaching $60.49. The company had a trading volume of 5,732,468 shares, compared to its average volume of 5,515,785. The business has a fifty day simple moving average of $57.46 and a 200-day simple moving average of $51.58. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $68.45. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.73.

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

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Friday, August 1st. The stock was sold at an average price of $58.79, for a total transaction of $88,185.00. Following the sale, the insider directly owned 33,183 shares in the company, valued at $1,950,828.57. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the transaction, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 355,024 shares of company stock worth $21,368,211. Company insiders own 2.80% of the company's stock.

Etsy Company 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.