Great Valley Advisor Group Inc. Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Great Valley Advisor Group Inc. acquired a new position in Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,531 shares of the specialty retailer’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in shares of Etsy during the 4th quarter valued at approximately $27,000. Operose Advisors LLC bought a new position in Etsy during the third quarter worth $28,000. Tompkins Financial Corp bought a new stake in Etsy during the fourth quarter valued at $41,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Etsy during the fourth quarter worth $49,000. Finally, GAMMA Investing LLC bought a new position in shares of Etsy in the 4th quarter worth about $54,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the transaction, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was 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 valued at $4,836,827 in the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley reduced their price objective on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC cut their target price on Etsy from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group lowered their price target on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.96.

Etsy Trading Up 4.2 %

Shares of ETSY stock opened at $62.46 on Tuesday. The stock’s fifty day simple moving average is $67.58 and its 200-day simple moving average is $71.53. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 4.73 and a beta of 2.00. Etsy, Inc. has a 1-year low of $56.60 and a 1-year high of $102.81.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period last year, the company earned $0.53 earnings per share. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

About Etsy

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.