Kaufman Rossin Wealth LLC Makes New $446,000 Investment in Etsy, Inc. $ETSY

Key Points

• Kaufman Rossin Wealth LLC has made a new investment in Etsy, acquiring 9,457 shares valued at approximately $446,000.
• Several large investors increased their positions in Etsy during the fourth quarter, with institutional investors owning 99.53% of the stock.
• Etsy's stock reported a 2.3% increase, but the company missed earnings expectations in its last quarterly report, earning $0.25 EPS versus a consensus estimate of $0.54.

Kaufman Rossin Wealth LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,457 shares of the specialty retailer's stock, valued at approximately $446,000.

A number of other large investors have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its position in Etsy by 7.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 121,454 shares of the specialty retailer's stock worth $6,419,000 after buying an additional 8,927 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Etsy in the 4th quarter worth approximately $11,506,000. Dimensional Fund Advisors LP lifted its position in shares of Etsy by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer's stock worth $59,172,000 after acquiring an additional 33,736 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Etsy by 27.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 35,620 shares of the specialty retailer's stock worth $1,884,000 after purchasing an additional 7,709 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Etsy by 941.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,229 shares of the specialty retailer's stock valued at $488,000 after purchasing an additional 8,343 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ETSY shares. Sanford C. Bernstein raised their target price on Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Citigroup dropped their price objective on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Bank of America lifted their target price on shares of Etsy from $67.00 to $71.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. UBS Group reissued a "neutral" rating and issued a $67.00 price target on shares of Etsy in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price target on shares of Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $57.80.

Etsy Stock Up 2.3%

Shares of Etsy stock opened at $64.96 on Thursday. The stock has a market capitalization of $6.44 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 4.03 and a beta of 1.73. The company has a 50-day simple moving average of $58.25 and a 200 day simple moving average of $52.28. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly 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). The firm had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. Etsy's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 151,666 shares of Etsy 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 owned 107,809 shares in the company, valued at approximately $6,218,423.12. The trade was a 58.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 11,944 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $59.31, for a total value of $708,398.64. Following the sale, the insider owned 47,529 shares in the company, valued at $2,818,944.99. The trade was a 20.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 364,618 shares of company stock worth $21,975,392 over the last ninety days. 2.80% of the stock is owned by insiders.

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.

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