Sequoia Financial Advisors LLC Acquires Shares of 4,110 Etsy, Inc. (NASDAQ:ETSY)

Sequoia Financial Advisors LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,110 shares of the specialty retailer’s stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. First Capital Advisors Group LLC. acquired a new stake in shares of Etsy during the 2nd quarter valued at approximately $25,000. CVA Family Office LLC acquired a new position in shares of Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new position in shares of Etsy during the 3rd quarter worth approximately $28,000. ICA Group Wealth Management LLC acquired a new position in shares of Etsy during the 4th quarter worth approximately $28,000. Finally, Quarry LP raised its position in shares of Etsy by 121.7% during the 1st quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 146 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of the company’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 completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. In the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Etsy Trading Down 0.2 %

Shares of Etsy stock opened at $67.34 on Friday. The company has a fifty day moving average price of $69.90 and a 200 day moving average price of $71.33. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $104.93. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 4.77 and a beta of 2.01.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Piper Sandler lifted their price objective on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group downgraded Etsy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th. Wells Fargo & Company cut their price objective on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. 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. Finally, UBS Group cut their price target on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.48.

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.