Merit Financial Group LLC Has $1.41 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Merit Financial Group LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 676.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other large investors have also modified their holdings of ETSY. Vanguard Group Inc. lifted its stake in shares of Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after purchasing an additional 56,772 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Etsy by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after buying an additional 235,550 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after purchasing an additional 522,111 shares during the last quarter. Norges Bank purchased a new position in shares of Etsy during the 4th quarter worth $74,235,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock valued at $59,820,000 after purchasing an additional 122,126 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Stock Performance

Shares of NASDAQ ETSY traded up $1.09 during trading on Friday, hitting $63.81. 6,148,791 shares of the company were exchanged, compared to its average volume of 4,061,576. The company has a fifty day moving average price of $47.57 and a 200-day moving average price of $51.02. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.90. The firm has a market capitalization of $6.65 billion, a PE ratio of 26.92, a P/E/G ratio of 2.57 and a beta of 1.80.

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

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the transaction, the insider now directly owns 33,322 shares of the company's stock, valued at approximately $1,435,178.54. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ETSY. Piper Sandler lowered their target price on Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley dropped their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a "hold" rating in a report on Monday, April 14th. Four 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.50.

About Etsy

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.