Texas Capital Bank Wealth Management Services Inc Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the specialty retailer's stock, valued at approximately $1,621,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ETSY. Arizona State Retirement System increased its position in Etsy by 0.5% in the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer's stock valued at $2,740,000 after acquiring an additional 157 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Etsy by 3.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer's stock valued at $354,000 after acquiring an additional 161 shares during the period. Truist Financial Corp increased its position in Etsy by 2.7% in the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer's stock valued at $516,000 after acquiring an additional 168 shares during the period. Treasurer of the State of North Carolina increased its position in Etsy by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 55,455 shares of the specialty retailer's stock valued at $3,581,000 after acquiring an additional 210 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Etsy by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,653 shares of the specialty retailer's stock valued at $944,000 after acquiring an additional 216 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETSY has been the topic of several analyst reports. Truist Financial lowered their target price on Etsy from $85.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Guggenheim decreased their price target on Etsy from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. JMP Securities lowered Etsy from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 2nd. Needham & Company LLC decreased their price target on Etsy from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group decreased their price target on Etsy from $80.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $79.96.

Etsy Price Performance

ETSY stock traded down $0.12 during trading hours on Friday, reaching $63.97. 2,050,310 shares of the stock were exchanged, compared to its average volume of 4,067,163. The firm's 50-day moving average is $66.36 and its 200-day moving average is $71.48. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 5.24 and a beta of 2.00. Etsy, Inc. has a 12 month low of $56.60 and a 12 month high of $102.81.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same quarter in the previous year, the business earned $0.53 EPS. Etsy's revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Etsy, Inc. will post 2.48 earnings per share for the current year.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company's stock, valued at $1,677,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company's stock.

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.