Venturi Wealth Management LLC Raises Position in Etsy, Inc. (NASDAQ:ETSY)

Venturi Wealth Management LLC increased its holdings in Etsy, Inc. (NASDAQ:ETSY) by 370.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,162 shares of the specialty retailer’s stock after acquiring an additional 915 shares during the quarter. Venturi Wealth Management LLC’s holdings in Etsy were worth $61,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ETSY. Blue Trust Inc. raised its position in Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 231 shares during the period. International Assets Investment Management LLC purchased a new position in Etsy in the 3rd quarter worth $1,233,000. Louisiana State Employees Retirement System raised its position in Etsy by 740.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock worth $3,082,000 after purchasing an additional 48,900 shares during the period. Bristlecone Advisors LLC raised its position in Etsy by 34.2% in the 3rd quarter. Bristlecone Advisors LLC now owns 8,119 shares of the specialty retailer’s stock worth $451,000 after purchasing an additional 2,067 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Etsy by 404.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 65,483 shares of the specialty retailer’s stock worth $3,636,000 after purchasing an additional 52,497 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $53.24 on Tuesday. The firm’s 50 day moving average price is $54.26 and its 200-day moving average price is $53.78. The company has a market cap of $5.70 billion, a PE ratio of 22.46, a P/E/G ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $74.46.

Etsy (NASDAQ:ETSY) last issued its 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. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group decreased their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Citigroup decreased their price objective on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley decreased their price objective 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 decreased their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Finally, JMP Securities restated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.78.

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.