Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 293.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,584 shares of the specialty retailer’s stock after purchasing an additional 51,131 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Etsy worth $3,236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Etsy in the 4th quarter worth $324,000. Los Angeles Capital Management LLC acquired a new stake in shares of Etsy in the 4th quarter worth $492,000. Proficio Capital Partners LLC acquired a new stake in shares of Etsy in the 4th quarter worth $604,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Etsy in the 4th quarter worth $116,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Etsy by 218.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,491 shares of the specialty retailer’s stock worth $80,000 after acquiring an additional 1,023 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of ETSY opened at $50.64 on Friday. The stock has a 50-day simple moving average of $51.09 and a 200-day simple moving average of $51.06. The stock has a market capitalization of $5.28 billion, a PE ratio of 36.17, a PEG ratio of 2.78 and a beta of 1.80. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.81.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to analysts’ expectations of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the sale, the chief executive officer now owns 31,818 shares of the company’s stock, valued at approximately $1,534,582.14. This trade represents a 40.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was 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. In the last quarter, insiders sold 205,418 shares of company stock worth $11,234,192. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of recent analyst reports. Arete downgraded Etsy from a “neutral” rating to a “sell” rating and set a $43.00 price objective for the company. in a research report on Wednesday, June 11th. Truist Financial raised their price objective on Etsy from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Bank of America cut their price objective on Etsy from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus cut their price objective on Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a “hold” rating in a research report on Monday, April 14th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.87.

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.