Etsy, Inc. (NASDAQ:ETSY) Position Boosted by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC increased its position in Etsy, Inc. (NASDAQ:ETSY) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,662 shares of the specialty retailer’s stock after purchasing an additional 631 shares during the period. Ameritas Advisory Services LLC’s holdings in Etsy were worth $881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of Etsy in the 4th quarter valued at approximately $204,000. Assenagon Asset Management S.A. boosted its holdings in Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. 180 Wealth Advisors LLC increased its stake in Etsy by 65.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 9,594 shares of the specialty retailer’s stock valued at $507,000 after purchasing an additional 3,806 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Etsy during the fourth quarter worth $280,000. Finally, Cooper Financial Group lifted its position in shares of Etsy by 4.7% in the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer’s stock worth $764,000 after buying an additional 642 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group downgraded Etsy from a “neutral” rating to a “sell” rating and cut their price target for the stock from $70.00 to $45.00 in a report on Tuesday, October 15th. Wedbush lowered their price objective on Etsy from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Bank of America cut their target price on Etsy from $61.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.54.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $52.50, for a total transaction of $39,375.00. Following the transaction, the insider now directly owns 24,371 shares in the company, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Etsy Price Performance

ETSY stock opened at $52.05 on Wednesday. The firm has a market cap of $5.86 billion, a PE ratio of 26.56, a P/E/G ratio of 2.95 and a beta of 1.99. Etsy, Inc. has a 12 month low of $47.10 and a 12 month high of $80.30. The firm has a 50 day simple moving average of $54.75 and a 200 day simple moving average of $54.77.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.26 earnings per share for the current year.

Etsy declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Etsy Company 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.