OMNI 360 Wealth Inc. Purchases New Shares in Etsy, Inc. (NASDAQ:ETSY)

OMNI 360 Wealth Inc. bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 5,219 shares of the specialty retailer's stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETSY. World Investment Advisors acquired a new stake in shares of Etsy in the first quarter worth $327,000. Olde Wealth Management LLC acquired a new stake in Etsy in the 1st quarter valued at $70,000. D.A. Davidson & CO. increased its holdings in Etsy by 15.8% in the 1st quarter. D.A. Davidson & CO. now owns 11,383 shares of the specialty retailer's stock valued at $537,000 after purchasing an additional 1,557 shares in the last quarter. Principal Financial Group Inc. raised its position in Etsy by 2.2% in the first quarter. Principal Financial Group Inc. now owns 559,749 shares of the specialty retailer's stock valued at $26,409,000 after purchasing an additional 11,860 shares during the period. Finally, Meritage Portfolio Management lifted its stake in shares of Etsy by 52.9% during the first quarter. Meritage Portfolio Management now owns 317,521 shares of the specialty retailer's stock worth $14,981,000 after purchasing an additional 109,901 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Activity at Etsy

In other news, CTO Richard Edward Colburn III sold 2,350 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the transaction, the insider directly owned 34,683 shares of the company's stock, valued at $1,781,318.88. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock worth $11,156,039 in the last 90 days. Corporate insiders own 2.80% of the company's stock.

Etsy Trading Up 1.3%

NASDAQ:ETSY traded up $0.67 during mid-day trading on Wednesday, hitting $54.13. The stock had a trading volume of 3,794,737 shares, compared to its average volume of 4,321,547. The company has a 50 day simple moving average of $52.32 and a 200-day simple moving average of $50.74. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 2.94 and a beta of 1.74. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.81.

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

Wall Street Analysts Forecast Growth

ETSY has been the topic of several recent research reports. Piper Sandler reduced their price target on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Arete Research raised shares of Etsy to a "strong sell" rating in a report on Wednesday, June 11th. Canaccord Genuity Group cut their price objective on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Stifel Nicolaus decreased their price objective on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Arete lowered Etsy from a "neutral" rating to a "sell" rating and set a $43.00 target price on the stock. in a research report on Wednesday, June 11th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.91.

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.