Florida Financial Advisors LLC Invests $347,000 in Etsy, Inc. (NASDAQ:ETSY)

Florida Financial Advisors LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, HoldingsChannel reports. The firm acquired 6,560 shares of the specialty retailer’s stock, valued at approximately $347,000.

Several other hedge funds have also added to or reduced their stakes in ETSY. DJE Kapital AG bought a new stake in shares of Etsy in the 4th quarter valued at about $983,000. Charles Schwab Investment Management Inc. increased its position in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after purchasing an additional 122,126 shares during the period. Principal Financial Group Inc. lifted its position in shares of 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 purchasing an additional 411,165 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Etsy in the 4th quarter valued at $492,000. Finally, American Capital Advisory LLC raised its stake in Etsy by 1,204,900.0% during the fourth quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock worth $637,000 after buying an additional 12,049 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Loop Capital cut their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Moffett Nathanson lifted their target price on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their price objective for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.42.

Etsy Stock Performance

Shares of ETSY opened at $47.82 on Wednesday. The firm has a market capitalization of $5.12 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72. The stock has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $52.75.

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

Insider Transactions at Etsy

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

Etsy 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.