Focus Partners Wealth Acquires 140,786 Shares of Etsy, Inc. (NASDAQ:ETSY)

Focus Partners Wealth increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3,439.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,879 shares of the specialty retailer's stock after purchasing an additional 140,786 shares during the quarter. Focus Partners Wealth owned 0.13% of Etsy worth $7,666,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ETSY. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after acquiring an additional 218 shares in the last quarter. Heron Bay Capital Management grew its stake in shares of Etsy by 1.3% during the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after acquiring an additional 258 shares in the last quarter. Denver PWM LLC grew its stake in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock worth $58,000 after acquiring an additional 289 shares in the last quarter. Finally, Gagnon Securities LLC grew its stake in shares of Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock worth $272,000 after acquiring an additional 376 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ETSY. Canaccord Genuity Group decreased their price target on shares of Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group decreased their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Etsy in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus decreased their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.14.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $43.09, for a total transaction of $933,587.94. Following the completion of the sale, the chief executive officer now owns 53,484 shares of the company's stock, valued at approximately $2,304,625.56. This trade represents a 28.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,618 shares of company stock valued at $3,469,803. 2.60% of the stock is currently owned by corporate insiders.

Etsy Price Performance

Shares of Etsy stock opened at $46.77 on Wednesday. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.93. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 2.57 and a beta of 1.78. The business has a fifty day simple moving average of $45.39 and a two-hundred day simple moving average of $50.92.

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

Etsy Company 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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