Cerity Partners LLC Purchases 7,528 Shares of Etsy, Inc. (NASDAQ:ETSY)

Cerity Partners LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 32.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,412 shares of the specialty retailer’s stock after acquiring an additional 7,528 shares during the quarter. Cerity Partners LLC’s holdings in Etsy were worth $1,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Hurley Capital LLC purchased a new stake in Etsy in the fourth quarter valued at about $32,000. Summit Securities Group LLC acquired a new stake in Etsy in the fourth quarter worth about $37,000. Kestra Investment Management LLC purchased a new stake in shares of Etsy during the fourth quarter worth about $38,000. Finally, Versant Capital Management Inc increased its holdings in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 2.3 %

ETSY opened at $42.52 on Thursday. The firm’s fifty day simple moving average is $48.07 and its two-hundred day simple moving average is $51.65. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $71.72. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data 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. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the previous year, the firm posted $0.62 EPS. Etsy’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

ETSY has been the topic of several research analyst reports. UBS Group dropped their target price on shares of Etsy from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Stifel Nicolaus cut their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reduced their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Finally, Bank of America reduced their price objective on Etsy from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.58.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,952 shares of company stock worth $2,554,620. 2.60% of the stock is owned by corporate insiders.

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.