United Advisor Group LLC Buys Shares of 3,970 Etsy, Inc. (NASDAQ:ETSY)

United Advisor Group LLC acquired a new position in Etsy, Inc. (NASDAQ:ETSY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,970 shares of the specialty retailer’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of ETSY. Blue Trust Inc. raised its stake in Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Etsy by 112.3% in the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 292 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Etsy in the second quarter worth approximately $42,000. Finally, Headlands Technologies LLC bought a new position in Etsy during the first quarter valued at about $59,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Stock Performance

Shares of ETSY opened at $53.08 on Thursday. The business’s fifty day moving average price is $52.45 and its two-hundred day moving average price is $57.78. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 6.19 and a beta of 1.99. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. Etsy’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, research analysts forecast that Etsy, Inc. will post 2.27 EPS for the current year.

Etsy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $30,257.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,369 shares of company stock worth $280,200 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Oppenheimer lowered shares of Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Truist Financial dropped their target price on shares of Etsy from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wedbush lowered their target price on Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Loop Capital lowered their target price on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.87.

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.