Sanctuary Advisors LLC Makes New $324,000 Investment in Etsy, Inc. (NASDAQ:ETSY)

Sanctuary Advisors LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,771 shares of the specialty retailer’s stock, valued at approximately $324,000.

Several other hedge funds have also recently added to or reduced their stakes in ETSY. Principal Financial Group Inc. increased its stake in shares of Etsy by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 547,889 shares of the specialty retailer’s stock valued at $28,978,000 after acquiring an additional 5,384 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 426 shares in the last quarter. Banque Pictet & Cie SA increased its stake in shares of Etsy by 0.4% in the 4th quarter. Banque Pictet & Cie SA now owns 137,790 shares of the specialty retailer’s stock valued at $7,288,000 after acquiring an additional 497 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Etsy by 2.6% in the 4th quarter. Vontobel Holding Ltd. now owns 70,083 shares of the specialty retailer’s stock valued at $3,707,000 after acquiring an additional 1,777 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the business’s 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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business’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 completion of the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ETSY shares. Loop Capital lowered their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Canaccord Genuity Group reduced their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus reduced their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their price target for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $49.05 on Tuesday. The company’s 50-day moving average is $53.77 and its 200 day moving average is $53.73. The company has a market capitalization of $5.25 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $73.48.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company 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 firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. As a group, research analysts predict 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.