Assetmark Inc. Has $1.36 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

Assetmark Inc. boosted its stake in Etsy, Inc. (NASDAQ:ETSY) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,764 shares of the specialty retailer’s stock after acquiring an additional 1,353 shares during the quarter. Assetmark Inc.’s holdings in Etsy were worth $1,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after purchasing an additional 711,572 shares in the last quarter. Keybank National Association OH acquired a new position in shares of Etsy during the 4th quarter worth about $240,000. Charles Schwab Investment Management Inc. increased its position in shares of Etsy by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after acquiring an additional 122,126 shares during the last quarter. LGT Fund Management Co Ltd. bought a new stake in Etsy during the fourth quarter worth about $272,000. Finally, DJE Kapital AG acquired a new position in Etsy during the fourth quarter valued at approximately $983,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ETSY shares. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the company from $45.00 to $55.00 in a report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. UBS Group dropped their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and reduced their price target for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus price target of $58.78.

Insider Activity

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Etsy Trading Down 3.7 %

NASDAQ ETSY opened at $46.87 on Wednesday. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.57 and a beta of 2.23. The company has a 50 day moving average of $52.95 and a 200-day moving average of $53.43. Etsy, Inc. has a 1-year low of $45.85 and a 1-year high of $73.25.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

About Etsy

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.