Geneos Wealth Management Inc. Boosts Holdings in Etsy, Inc. (NASDAQ:ETSY)

Geneos Wealth Management Inc. boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 1,298.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,931 shares of the specialty retailer’s stock after purchasing an additional 3,650 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Etsy were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ETSY. Pacer Advisors Inc. increased its position in shares of Etsy by 183.9% during the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after acquiring an additional 3,861,668 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Etsy in the third quarter worth $55,530,000. Holocene Advisors LP bought a new position in shares of Etsy during the third quarter valued at $49,061,000. Assenagon Asset Management S.A. boosted its position in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after buying an additional 850,520 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after buying an additional 411,165 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETSY shares. Barclays dropped their price target on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Etsy in a research note on Thursday, October 31st. Raymond James cut their price objective on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Moffett Nathanson raised their target price on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, JMP Securities restated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.42.

Etsy Trading Down 1.3 %

Shares of ETSY stock opened at $55.05 on Thursday. The stock’s 50-day moving average price is $55.07 and its 200-day moving average price is $54.62. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $80.30. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99.

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

Etsy announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $52.50, for a total value of $39,375.00. Following the sale, the insider now directly owns 24,371 shares in the company, valued at $1,279,477.50. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

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.