Merit Financial Group LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,855 shares of the specialty retailer’s stock, valued at approximately $204,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. raised its position in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the period. Capital Performance Advisors LLP bought a new stake in Etsy in the third quarter worth $43,000. Versant Capital Management Inc boosted its position in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 499 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Etsy during the third quarter valued at about $59,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Insider Buying and Selling
In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $52.50, for a total value of $39,375.00. Following the completion of the transaction, the insider now directly owns 24,371 shares of the company’s stock, valued at $1,279,477.50. This represents a 2.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.
Etsy Stock Performance
Etsy (NASDAQ:ETSY – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same period last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Etsy, Inc. will post 2.26 EPS for the current year.
Etsy declared that its board has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several equities research analysts have weighed in on ETSY shares. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $70.00 to $45.00 in a report on Tuesday, October 15th. UBS Group reduced their price target on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Citigroup dropped their price objective on Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley reduced their target price on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average price target of $62.54.
View Our Latest Stock Report on Etsy
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.
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