Prospera Private Wealth LLC Takes $59,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Prospera Private Wealth LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,063 shares of the specialty retailer’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently bought and sold shares of ETSY. Blue Trust Inc. boosted its stake in shares of Etsy by 106.5% during the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in Etsy by 7.0% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 3,659 shares of the specialty retailer’s stock worth $251,000 after purchasing an additional 240 shares during the period. Meridian Management Co. increased its holdings in shares of Etsy by 0.4% in the second quarter. Meridian Management Co. now owns 63,409 shares of the specialty retailer’s stock valued at $3,740,000 after purchasing an additional 241 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Etsy by 25.6% in the second quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock valued at $73,000 after purchasing an additional 253 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Etsy by 112.3% during the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,369 shares of company stock worth $280,200. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of several research analyst reports. UBS Group lowered their price target on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group downgraded shares of Etsy from a “neutral” rating to a “sell” rating and decreased their price target for the company from $70.00 to $45.00 in a research note on Tuesday, October 15th. Citigroup cut their price objective 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. Finally, Loop Capital lowered their price objective 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 research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average price target of $64.87.

Etsy Trading Up 2.2 %

ETSY stock opened at $51.98 on Friday. The firm has a market cap of $5.85 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 5.95 and a beta of 1.99. The stock has a 50-day moving average price of $52.03 and a 200-day moving average price of $56.75. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $89.58.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.09). The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. Etsy’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. On average, analysts forecast that Etsy, Inc. will post 2.25 earnings per share for the current year.

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

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.