World Investment Advisors Acquires Shares of 6,921 Etsy, Inc. (NASDAQ:ETSY)

World Investment Advisors purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,921 shares of the specialty retailer's stock, valued at approximately $327,000.

Several other institutional investors have also recently made changes to their positions in the company. Heron Bay Capital Management lifted its holdings in shares of Etsy by 1.3% in the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after buying an additional 258 shares during the period. True Wealth Design LLC grew its stake in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after buying an additional 292 shares during the last quarter. M&T Bank Corp boosted its stake in Etsy by 7.3% in the 4th quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer's stock worth $318,000 after purchasing an additional 409 shares in the last quarter. GAMMA Investing LLC lifted its position in Etsy by 39.4% during the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock worth $91,000 after acquiring an additional 545 shares during the period. Finally, Hurley Capital LLC purchased a new stake in Etsy in the fourth quarter valued at approximately $32,000. Institutional investors own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ETSY shares. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price target on the stock. in a research report on Wednesday, June 11th. Wells Fargo & Company set a $41.00 price target on shares of Etsy and gave the stock an "underweight" rating in a report on Monday, June 30th. Evercore ISI decreased their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Citigroup reduced their price target on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.91.

Etsy Price Performance

Shares of NASDAQ ETSY traded down $0.29 during midday trading on Friday, hitting $57.87. The company's stock had a trading volume of 3,410,867 shares, compared to its average volume of 4,339,383. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 3.20 and a beta of 1.74. The business's fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $50.78. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.81.

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

Insider Activity

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

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.