IFP Advisors Inc Raises Stake in Etsy Inc $ETSY

IFP Advisors Inc grew its stake in shares of Etsy Inc (NYSE:ETSY) by 157.9% in the fourth quarter, Holdings Channel reports. The firm owned 14,561 shares of the company’s stock after acquiring an additional 8,914 shares during the period. IFP Advisors Inc’s holdings in Etsy were worth $807,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Etsy by 19.1% in the first quarter. Integrated Wealth Concepts LLC now owns 5,986 shares of the company’s stock valued at $282,000 after purchasing an additional 961 shares during the period. Empowered Funds LLC boosted its holdings in shares of Etsy by 55.5% in the first quarter. Empowered Funds LLC now owns 9,673 shares of the company’s stock valued at $456,000 after purchasing an additional 3,451 shares during the period. Woodline Partners LP purchased a new stake in shares of Etsy in the first quarter valued at approximately $2,181,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Etsy by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,594 shares of the company’s stock valued at $180,000 after purchasing an additional 906 shares during the period. Finally, M&T Bank Corp purchased a new stake in Etsy during the second quarter worth $232,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Performance

Shares of ETSY opened at $62.48 on Monday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The firm’s fifty day simple moving average is $57.20. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 5.56 and a beta of 1.89.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The firm had revenue of $881.64 million during the quarter. Research analysts forecast that Etsy Inc will post 3.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Josh Silverman sold 88,350 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $64.18, for a total value of $5,670,303.00. Following the transaction, the insider directly owned 130,694 shares of the company’s stock, valued at $8,387,940.92. This represents a 40.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 2,030 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total value of $128,905.00. Following the completion of the transaction, the chief financial officer directly owned 6,913 shares in the company, valued at approximately $438,975.50. The trade was a 22.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 278,569 shares of company stock worth $17,728,487. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ETSY shares. Morgan Stanley set a $64.00 target price on Etsy in a report on Wednesday, April 29th. Canaccord Genuity Group upped their target price on Etsy from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Stifel Nicolaus reduced their price target on Etsy from $62.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. UBS Group upgraded Etsy from a “neutral” rating to a “neutral” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Etsy from $74.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.75.

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.