Focus Partners Wealth Has $7.67 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

Focus Partners Wealth boosted its stake in Etsy, Inc. (NASDAQ:ETSY) by 3,439.7% in the fourth quarter, Holdings Channel reports. The firm owned 144,879 shares of the specialty retailer’s stock after purchasing an additional 140,786 shares during the quarter. Focus Partners Wealth’s holdings in Etsy were worth $7,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Etsy by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock valued at $651,056,000 after acquiring an additional 56,772 shares during the last quarter. Renaissance Technologies LLC grew its position in Etsy by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock valued at $286,751,000 after acquiring an additional 235,550 shares during the last quarter. Van ECK Associates Corp grew its position in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC grew its position in Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after acquiring an additional 850,520 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of ETSY opened at $46.77 on Wednesday. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.93. The business’s 50 day moving average price is $45.39 and its two-hundred day moving average price is $50.92. The firm has a market cap of $4.88 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

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

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the transaction, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. The trade was a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,618 shares of company stock valued at $3,469,803. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the company a “hold” rating in a research report on Monday, April 14th. Evercore ISI reduced their price target on Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. B. Riley reduced their price target on Etsy from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald boosted their price target on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Loop Capital reduced their price target on Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a report on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $50.14.

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.