Focus Partners Wealth Increases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Focus Partners Wealth lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3,439.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,879 shares of the specialty retailer's stock after purchasing an additional 140,786 shares during the period. Focus Partners Wealth owned about 0.13% of Etsy worth $7,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brevan Howard Capital Management LP grew its position in shares of Etsy by 5.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 54,884 shares of the specialty retailer's stock valued at $2,903,000 after purchasing an additional 2,760 shares during the last quarter. Captrust Financial Advisors bought a new stake in Etsy during the 4th quarter worth about $362,000. Balyasny Asset Management L.P. acquired a new position in shares of Etsy during the fourth quarter worth approximately $19,412,000. Bayesian Capital Management LP lifted its stake in shares of Etsy by 68.5% during the fourth quarter. Bayesian Capital Management LP now owns 41,404 shares of the specialty retailer's stock valued at $2,190,000 after acquiring an additional 16,832 shares during the period. Finally, Algert Global LLC grew its holdings in Etsy by 76.9% during the 4th quarter. Algert Global LLC now owns 173,804 shares of the specialty retailer's stock worth $9,192,000 after acquiring an additional 75,567 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Bank of America reduced their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, B. Riley cut their target price on Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $50.14.

Etsy Trading Down 0.8%

Shares of Etsy stock traded down $0.36 during trading on Monday, hitting $46.66. 623,905 shares of the stock traded hands, compared to its average volume of 3,884,545. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.93. The stock's fifty day simple moving average is $45.37 and its 200 day simple moving average is $50.90. The firm has a market cap of $4.87 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

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 for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. The trade was a 6.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,418 shares of company stock worth $3,601,377 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.