Etsy, Inc. $ETSY Stock Holdings Lifted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its position in Etsy, Inc. (NASDAQ:ETSY) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,343 shares of the specialty retailer’s stock after acquiring an additional 412 shares during the period. Geneos Wealth Management Inc.’s holdings in Etsy were worth $205,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ETSY. Allworth Financial LP increased its position in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 248 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Etsy in the first quarter worth approximately $36,000. Brooklyn Investment Group increased its position in shares of Etsy by 842.2% in the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 699 shares in the last quarter. Olde Wealth Management LLC purchased a new position in shares of Etsy in the first quarter worth approximately $70,000. Finally, GAMMA Investing LLC increased its position in shares of Etsy by 39.4% in the first quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer’s stock worth $91,000 after acquiring an additional 545 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $51.62, for a total transaction of $77,430.00. Following the transaction, the insider owned 31,683 shares of the company’s stock, valued at approximately $1,635,476.46. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles Andrew Ballard sold 2,400 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $62.42, for a total transaction of $149,808.00. Following the transaction, the director directly owned 5,796 shares in the company, valued at $361,786.32. This trade represents a 29.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,482 shares of company stock valued at $19,130,691 in the last three months. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of Etsy from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Etsy from $40.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, July 22nd. Canaccord Genuity Group set a $76.00 price objective on shares of Etsy in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Etsy from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $67.00 price objective on shares of Etsy in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $57.80.

Etsy Trading Up 2.8%

Shares of Etsy stock opened at $59.41 on Wednesday. The firm has a fifty day simple moving average of $59.22 and a 200-day simple moving average of $52.61. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 3.68 and a beta of 1.77.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The firm had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Etsy’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Etsy, Inc. will post 2.57 earnings per share 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.