Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Wealth Enhancement Advisory Services LLC increased its position in Etsy, Inc. (NASDAQ:ETSY) by 125.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,453 shares of the specialty retailer’s stock after purchasing an additional 9,718 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Etsy were worth $923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn FI LLC purchased a new stake in Etsy in the fourth quarter worth $5,229,000. Neo Ivy Capital Management purchased a new stake in shares of Etsy in the fourth quarter worth $3,334,000. GTS Securities LLC grew its stake in shares of Etsy by 142.3% in the fourth quarter. GTS Securities LLC now owns 14,667 shares of the specialty retailer’s stock worth $776,000 after acquiring an additional 49,333 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Etsy in the fourth quarter worth $283,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Etsy by 40.6% in the fourth quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer’s stock worth $25,200,000 after acquiring an additional 137,602 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ETSY. Stifel Nicolaus cut their target price on Etsy from $51.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley cut their target price on Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group cut their target price on Etsy from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Evercore ISI cut their target price on Etsy from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital dropped their price objective on Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.50.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total value of $72,360.00. Following the transaction, the insider now owns 34,822 shares of the company’s stock, valued at $1,679,813.28. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Insiders have sold 205,418 shares of company stock valued at $11,234,192 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Etsy Stock Performance

ETSY stock opened at $63.88 on Tuesday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.90. The business’s 50-day moving average is $47.84 and its two-hundred day moving average is $51.10. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.57 and a beta of 1.80.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same period in the prior year, the company posted $0.48 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.