Greenleaf Trust Purchases Shares of 2,592 Etsy, Inc. (NASDAQ:ETSY)

Greenleaf Trust purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,592 shares of the specialty retailer’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in shares of Etsy during the fourth quarter worth $27,000. Operose Advisors LLC acquired a new position in shares of Etsy during the third quarter worth $28,000. Tompkins Financial Corp acquired a new position in shares of Etsy during the fourth quarter worth $41,000. KB Financial Partners LLC raised its holdings in Etsy by 99.5% in the third quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 417 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Etsy by 33.1% in the third quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock valued at $71,000 after acquiring an additional 274 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock worth $4,836,827 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Etsy stock opened at $67.20 on Friday. The company has a 50-day simple moving average of $69.12 and a 200-day simple moving average of $71.50. The firm has a market capitalization of $7.87 billion, a P/E ratio of 30.00, a P/E/G ratio of 4.76 and a beta of 2.01. Etsy, Inc. has a one year low of $58.20 and a one year high of $102.81.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

ETSY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. BTIG Research cut their price target on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company cut their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Piper Sandler upped their price target on shares of Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.46.

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.