Wealth Enhancement Advisory Services LLC Increases Position in Etsy, Inc. (NASDAQ:ETSY)

Wealth Enhancement Advisory Services LLC boosted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 15.7% in the second quarter, HoldingsChannel reports. The firm owned 7,833 shares of the specialty retailer’s stock after purchasing an additional 1,062 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Etsy were worth $462,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Etsy in the 4th quarter valued at approximately $47,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Etsy during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Etsy Trading Up 3.0 %

ETSY stock opened at $55.40 on Friday. The firm’s 50-day moving average is $58.33 and its two-hundred day moving average is $64.29. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a 52 week low of $51.45 and a 52 week high of $89.58.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The firm had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the firm earned $0.83 EPS. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Etsy, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the transaction, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,694 shares of company stock worth $169,687. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Wedbush reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Etsy in a research report on Monday, July 22nd. Citigroup cut their target price on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Truist Financial lowered their target price on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, The Goldman Sachs Group cut their price target on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.55.

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.