Smartleaf Asset Management LLC Increases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Smartleaf Asset Management LLC increased its holdings in Etsy, Inc. (NASDAQ:ETSY) by 218.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,491 shares of the specialty retailer’s stock after buying an additional 1,023 shares during the period. Smartleaf Asset Management LLC’s holdings in Etsy were worth $80,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETSY. Pacer Advisors Inc. grew its stake in Etsy by 183.9% during the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after acquiring an additional 3,861,668 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Etsy in the 3rd quarter valued at $55,530,000. Holocene Advisors LP purchased a new position in shares of Etsy during the 3rd quarter valued at $49,061,000. Assenagon Asset Management S.A. increased its holdings in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after buying an additional 522,111 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,666 shares of company stock valued at $1,286,445. Company insiders own 2.60% of the company’s stock.

Etsy Stock Down 0.3 %

Shares of Etsy stock opened at $46.80 on Monday. The company’s fifty day simple moving average is $53.17 and its two-hundred day simple moving average is $53.53. Etsy, Inc. has a 12-month low of $45.85 and a 12-month high of $73.48. The firm has a market cap of $5.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted 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 company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ETSY shares. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and decreased their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Morgan Stanley cut their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald lowered their price objective on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Moffett Nathanson upped their target price on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.78.

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.