Denver PWM LLC Has $58,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Denver PWM LLC raised its holdings in Etsy, Inc. (NASDAQ:ETSY) by 36.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,090 shares of the specialty retailer’s stock after acquiring an additional 289 shares during the quarter. Denver PWM LLC’s holdings in Etsy were worth $58,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Etsy in the 4th quarter valued at $38,000. Capital Performance Advisors LLP acquired a new stake in Etsy in the 3rd quarter valued at $43,000. Versant Capital Management Inc increased its stake in Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Etsy in the 3rd quarter valued at $59,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Price Performance

ETSY stock opened at $51.26 on Friday. The company has a 50 day simple moving average of $54.43 and a 200 day simple moving average of $53.78. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $74.82.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Moffett Nathanson boosted their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Morgan Stanley lowered their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday. JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy presently has a consensus rating of “Hold” and an average price target of $58.78.

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.