Kestra Investment Management LLC Acquires Shares of 718 Etsy, Inc. (NASDAQ:ETSY)

Kestra Investment Management LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 718 shares of the specialty retailer’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in shares of Etsy by 370.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,162 shares of the specialty retailer’s stock worth $61,000 after acquiring an additional 915 shares during the period. D.A. Davidson & CO. grew its stake in shares of Etsy by 10.3% in the fourth quarter. D.A. Davidson & CO. now owns 9,826 shares of the specialty retailer’s stock worth $520,000 after acquiring an additional 918 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Etsy in the fourth quarter worth approximately $324,000. Principal Financial Group Inc. grew its stake in shares of Etsy by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 547,889 shares of the specialty retailer’s stock worth $28,978,000 after acquiring an additional 5,384 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 426 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ETSY. Wells Fargo & Company lifted their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday. Stifel Nicolaus cut their target price on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a research report on Thursday. Moffett Nathanson boosted their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Performance

ETSY stock opened at $51.26 on Friday. Etsy, Inc. has a one year low of $47.10 and a one year high of $74.82. The company’s fifty day moving average price is $54.43 and its 200-day moving average price is $53.78. The company has a market capitalization of $5.49 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its 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 firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy announced that its board has initiated a share buyback 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 reacquire up to 17.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by 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.