Allworth Financial LP Has $35,000 Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Allworth Financial LP boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 47.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 769 shares of the specialty retailer’s stock after purchasing an additional 248 shares during the period. Allworth Financial LP’s holdings in Etsy were worth $35,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of Etsy in the fourth quarter valued at $604,000. HighTower Advisors LLC bought a new stake in Etsy during the 4th quarter worth about $218,000. Natixis Advisors LLC bought a new stake in Etsy during the 4th quarter worth about $606,000. Intech Investment Management LLC acquired a new stake in Etsy in the 4th quarter valued at about $751,000. Finally, Xponance Inc. raised its stake in shares of Etsy by 19.8% in the fourth quarter. Xponance Inc. now owns 15,609 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 2,578 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Insider Transactions at Etsy

In related news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the sale, the chief technology officer directly owned 2,896 shares of the company’s stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Josh Silverman sold 151,666 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer owned 107,809 shares in the company, valued at $6,218,423.12. The trade was a 58.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,298 shares of company stock worth $11,156,039. Company insiders own 2.80% of the company’s stock.

Etsy Price Performance

Shares of ETSY opened at $59.64 on Friday. The company’s 50-day moving average is $54.03 and its 200-day moving average is $50.91. The firm has a market capitalization of $6.22 billion, a PE ratio of 42.60, a PEG ratio of 3.19 and a beta of 1.74. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.18.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETSY. Stifel Nicolaus lowered their price target on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Bank of America lowered their target price on Etsy from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Sanford C. Bernstein boosted their target price on Etsy from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday. Citizens Jmp raised Etsy to a “hold” rating in a research note on Thursday, July 10th. Finally, Loop Capital lowered their price objective on Etsy from $40.00 to $37.00 and set a “sell” rating for the company in a research report on Thursday, May 1st. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average target price of $49.92.

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.