Wealth Enhancement Advisory Services LLC Sells 7,872 Shares of Etsy, Inc. $ETSY

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Etsy, Inc. by 11.5%, now owning 60,712 shares valued at approximately $3.3 million.
• Several institutional investors increased their positions in Etsy, with GAMMA Investing LLC raising their stake by over 6,477% during the first quarter.
• Etsy's stock price recently rose 0.9%, with a current market cap of $6.36 billion and a PE ratio of 51.76.

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,712 shares of the specialty retailer's stock after selling 7,872 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Etsy worth $3,301,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ETSY. 111 Capital bought a new position in shares of Etsy in the fourth quarter worth about $310,000. Kera Capital Partners Inc. bought a new position in shares of Etsy in the first quarter worth about $231,000. Versant Capital Management Inc increased its stake in shares of Etsy by 1,066.3% in the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 8,797 shares during the period. GAMMA Investing LLC increased its stake in shares of Etsy by 6,477.2% in the first quarter. GAMMA Investing LLC now owns 90,963 shares of the specialty retailer's stock worth $4,292,000 after purchasing an additional 89,580 shares during the period. Finally, 180 Wealth Advisors LLC increased its stake in shares of Etsy by 23.2% in the first quarter. 180 Wealth Advisors LLC now owns 11,823 shares of the specialty retailer's stock worth $558,000 after purchasing an additional 2,229 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $51.62, for a total transaction of $77,430.00. Following the sale, the insider directly owned 31,683 shares of the company's stock, valued at approximately $1,635,476.46. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total value of $149,808.00. Following the sale, the director directly owned 5,796 shares in the company, valued at $361,786.32. The trade was a 29.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 386,482 shares of company stock valued at $23,680,691. Corporate insiders own 2.80% of the company's stock.

Etsy Stock Up 0.9%

ETSY stock opened at $64.18 on Friday. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $70.57. The company has a market cap of $6.36 billion, a PE ratio of 51.76, a price-to-earnings-growth ratio of 4.05 and a beta of 1.77. The business's 50-day simple moving average is $60.21 and its 200 day simple moving average is $53.41.

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 for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). The company had revenue of $672.66 million for 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 firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ETSY shares. Bank of America lifted their price objective on Etsy from $67.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price objective on Etsy from $41.00 to $57.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Guggenheim reissued a "buy" rating and set a $70.00 target price on shares of Etsy in a research report on Thursday, September 18th. Finally, Stifel Nicolaus lifted their target price on Etsy from $45.00 to $66.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $57.80.

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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