Modera Wealth Management LLC Grows Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Key Points

• Modera Wealth Management LLC significantly increased its stake in Etsy, Inc. by 94.8% during the 1st quarter, acquiring an additional 6,857 shares worth approximately $665,000.
• Several institutional investors, including Renaissance Technologies LLC and Victory Capital Management Inc., also boosted their holdings in Etsy, indicating strong interest from large investors as they own 99.53% of the company’s stock.
• Analyst ratings for Etsy show a mixed outlook, with five analysts suggesting a sell, while others hold or buy ratings, indicating a consensus rating of "Hold" and a price target of $56.76.

Modera Wealth Management LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 94.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,088 shares of the specialty retailer's stock after buying an additional 6,857 shares during the period. Modera Wealth Management LLC's holdings in Etsy were worth $665,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ETSY. Renaissance Technologies LLC boosted its holdings in shares of Etsy by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after buying an additional 235,550 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock worth $95,599,000 after buying an additional 535,864 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Etsy by 53.7% in the first quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer's stock valued at $58,923,000 after purchasing an additional 436,231 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Etsy by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer's stock worth $59,172,000 after buying an additional 33,736 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Etsy by 89.1% in the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock valued at $47,042,000 after purchasing an additional 419,038 shares during the period. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other Etsy news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the transaction, the chief technology officer directly owned 2,896 shares in the company, valued at approximately $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 151,666 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were 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 $6,218,423.12. This trade represents a 58.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 326,041 shares of company stock valued at $19,664,717. Insiders own 2.80% of the company's stock.

Analyst Ratings Changes

ETSY has been the subject of a number of analyst reports. Citigroup reduced their price target on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Stifel Nicolaus increased their price objective on shares of Etsy from $45.00 to $66.00 and gave the company a "hold" rating in a report on Tuesday. B. Riley lowered their price target on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley increased their price objective on Etsy from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Canaccord Genuity Group set a $76.00 price target on shares of Etsy in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.76.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $58.77 on Friday. The stock's 50-day simple moving average is $56.91 and its 200-day simple moving average is $51.45. The firm has a market capitalization of $5.82 billion, a PE ratio of 47.40, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $68.45.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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 company 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%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.