Etsy, Inc. (NASDAQ:ETSY) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC grew its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,728 shares of the specialty retailer’s stock after acquiring an additional 218 shares during the period. Larson Financial Group LLC’s holdings in Etsy were worth $144,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Etsy during the 4th quarter worth approximately $38,000. Versant Capital Management Inc increased its stake in shares of Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 499 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Etsy by 95.1% during the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 426 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Etsy in the 3rd quarter worth approximately $59,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ETSY. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Loop Capital lowered their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald lowered their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lowered their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.78.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 over the last quarter. 2.60% of the stock is owned by company insiders.

Etsy Stock Performance

Shares of ETSY stock opened at $46.87 on Wednesday. Etsy, Inc. has a one year low of $45.85 and a one year high of $73.25. The company’s 50-day simple moving average is $52.95 and its 200-day simple moving average is $53.43. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter last year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS 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.