Wealth Enhancement Advisory Services LLC Grows Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Wealth Enhancement Advisory Services LLC lifted its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 293.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,584 shares of the specialty retailer's stock after purchasing an additional 51,131 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Etsy worth $3,236,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ETSY. Lindbrook Capital LLC increased its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Larson Financial Group LLC increased its stake in Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after acquiring an additional 218 shares during the last quarter. Heron Bay Capital Management increased its stake in Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after acquiring an additional 258 shares during the last quarter. True Wealth Design LLC increased its stake in Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Etsy by 7.3% during the fourth quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer's stock worth $318,000 after acquiring an additional 409 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ETSY shares. Loop Capital reduced their price objective on Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Arete cut Etsy from a "neutral" rating to a "sell" rating and set a $43.00 target price on the stock. in a research note on Wednesday, June 11th. Morgan Stanley cut their target price on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus cut their target price on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Canaccord Genuity Group cut their target price on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $49.87.

Etsy Stock Performance

Etsy stock traded up $0.01 during mid-day trading on Friday, reaching $50.64. 5,893,398 shares of the company were exchanged, compared to its average volume of 4,267,023. The business has a fifty day moving average of $51.09 and a 200 day moving average of $51.06. The firm has a market cap of $5.28 billion, a P/E ratio of 36.17, a PEG ratio of 2.78 and a beta of 1.80. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. Sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total value of $72,360.00. Following the completion of the transaction, the insider now owns 34,822 shares in the company, valued at $1,679,813.28. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 151,666 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the completion of the transaction, the chief executive officer now owns 107,809 shares of the company's stock, valued at $6,218,423.12. This trade represents a 58.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,418 shares of company stock worth $11,234,192 over the last 90 days. Company insiders own 2.80% of the company's stock.

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.