Cerity Partners LLC Has $4.33 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Cerity Partners LLC grew its holdings in Etsy, Inc. (NASDAQ:ETSY) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 53,437 shares of the specialty retailer’s stock after buying an additional 1,178 shares during the period. Cerity Partners LLC’s holdings in Etsy were worth $4,331,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Etsy by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock valued at $1,703,069,000 after buying an additional 118,034 shares in the last quarter. Bares Capital Management Inc. grew its stake in shares of Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after buying an additional 1,480,655 shares in the last quarter. Van ECK Associates Corp boosted its position in Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after purchasing an additional 1,047,811 shares during the period. Capital World Investors boosted its position in Etsy by 13.4% during the first quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after purchasing an additional 409,540 shares during the period. Finally, Geode Capital Management LLC boosted its position in Etsy by 2.1% during the first quarter. Geode Capital Management LLC now owns 2,670,332 shares of the specialty retailer’s stock worth $296,628,000 after purchasing an additional 54,554 shares during the period. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ETSY. Truist Financial decreased their target price on Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company decreased their target price on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Etsy in a report on Friday, March 1st. Finally, Wedbush cut their price target on Etsy from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.84.

Etsy Stock Performance

Shares of ETSY stock opened at $67.49 on Thursday. The stock’s fifty day moving average is $70.04 and its 200-day moving average is $71.36. The stock has a market capitalization of $8.00 billion, a PE ratio of 30.13, a PEG ratio of 4.66 and a beta of 2.01. Etsy, Inc. has a 52 week low of $58.20 and a 52 week high of $104.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by company insiders.

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.