Merit Financial Group LLC Purchases 26,079 Shares of Etsy, Inc. (NASDAQ:ETSY)

Merit Financial Group LLC lifted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 676.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,934 shares of the specialty retailer's stock after acquiring an additional 26,079 shares during the quarter. Merit Financial Group LLC's holdings in Etsy were worth $1,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lindbrook Capital LLC increased its position in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares in the last quarter. Hurley Capital LLC bought a new position in shares of Etsy in the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy during the fourth quarter worth $34,000. Finally, Summit Securities Group LLC bought a new stake in Etsy during the fourth quarter worth $37,000. Institutional investors own 99.53% of the company's stock.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. This trade represents a 40.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total transaction of $72,360.00. Following the sale, the insider now directly owns 34,822 shares in the company, valued at $1,679,813.28. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,418 shares of company stock worth $11,234,192. Insiders own 2.80% of the company's stock.

Etsy Trading Down 3.2%

ETSY stock traded down $2.05 during mid-day trading on Tuesday, hitting $61.83. The stock had a trading volume of 5,311,373 shares, compared to its average volume of 4,088,928. The firm has a fifty day simple moving average of $48.11 and a 200 day simple moving average of $51.17. The firm has a market capitalization of $6.45 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.57 and a beta of 1.80. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.90.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same period last year, the business earned $0.48 earnings per share. The business's revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on ETSY shares. Cantor Fitzgerald lifted their price objective on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. B. Riley cut their price objective on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their target price on Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Etsy has an average rating of "Hold" and a consensus price target of $50.50.

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.