Aaron Wealth Advisors LLC Lowers Stock Position in Etsy Inc $ETSY

Aaron Wealth Advisors LLC reduced its stake in shares of Etsy Inc (NYSE:ETSY) by 70.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,706 shares of the company’s stock after selling 11,235 shares during the period. Aaron Wealth Advisors LLC’s holdings in Etsy were worth $261,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its holdings in Etsy by 12,600.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 762 shares of the company’s stock worth $51,000 after purchasing an additional 756 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Etsy in the 3rd quarter worth approximately $51,000. Salomon & Ludwin LLC purchased a new position in Etsy in the 3rd quarter worth approximately $55,000. Danske Bank A S purchased a new position in Etsy in the 3rd quarter worth approximately $66,000. Finally, LSV Asset Management purchased a new position in Etsy in the 3rd quarter worth approximately $86,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ETSY shares. Zacks Research raised Etsy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Citigroup reissued a “buy” rating on shares of Etsy in a report on Tuesday, December 30th. BTIG Research lowered their price target on Etsy from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Stifel Nicolaus lowered their price target on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Finally, Truist Financial boosted their price target on Etsy from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Etsy presently has an average rating of “Hold” and an average target price of $61.67.

Etsy Trading Down 1.2%

NYSE:ETSY opened at $52.77 on Friday. Etsy Inc has a 1 year low of $41.51 and a 1 year high of $76.51. The business has a 50 day moving average price of $52.06. The company has a market cap of $5.08 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 3.36 and a beta of 1.77.

Etsy (NYSE:ETSY) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 24.94% and a net margin of 5.65%.The business had revenue of $881.64 million for the quarter.

Etsy declared that its board has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CAO Merilee Buckley sold 1,993 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $52.92, for a total transaction of $105,469.56. Following the transaction, the chief accounting officer owned 809 shares of the company’s stock, valued at approximately $42,812.28. The trade was a 71.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Andrew Ballard sold 1,790 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $55.74, for a total value of $99,774.60. Following the transaction, the director directly owned 4,006 shares in the company, valued at approximately $223,294.44. This represents a 30.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,971 shares of company stock valued at $2,326,623. 2.80% of the stock is currently owned by insiders.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.