Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Etsy, Inc. (NASDAQ:ETSYGet Rating) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 275,936 shares of the specialty retailer’s stock after acquiring an additional 17,559 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of Etsy worth $60,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ETSY. Principal Financial Group Inc. boosted its holdings in Etsy by 1,113.3% in the third quarter. Principal Financial Group Inc. now owns 2,002,122 shares of the specialty retailer’s stock worth $416,361,000 after acquiring an additional 1,837,111 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Etsy by 226.7% in the third quarter. Flossbach Von Storch AG now owns 2,189,391 shares of the specialty retailer’s stock worth $455,306,000 after purchasing an additional 1,519,258 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Etsy by 96.3% in the third quarter. Nikko Asset Management Americas Inc. now owns 1,058,791 shares of the specialty retailer’s stock worth $219,117,000 after purchasing an additional 519,307 shares during the last quarter. Capital World Investors raised its stake in shares of Etsy by 17.8% in the third quarter. Capital World Investors now owns 3,042,393 shares of the specialty retailer’s stock worth $632,696,000 after purchasing an additional 460,568 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Etsy in the fourth quarter worth about $90,003,000. 89.25% of the stock is owned by institutional investors and hedge funds.

In other Etsy news, CMO Ryan M. Scott sold 6,147 shares of the business’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $126.11, for a total transaction of $775,198.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Ryan M. Scott sold 2,323 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $132.60, for a total value of $308,029.80. The disclosure for this sale can be found here. Insiders have sold 109,975 shares of company stock worth $16,251,348 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:ETSY opened at $101.79 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.18 and a quick ratio of 2.18. The business’s 50 day moving average price is $132.59 and its 200-day moving average price is $187.26. The firm has a market capitalization of $12.93 billion, a PE ratio of 29.85, a P/E/G ratio of 1.40 and a beta of 1.64. Etsy, Inc. has a 1 year low of $100.32 and a 1 year high of $307.75.

Etsy (NASDAQ:ETSYGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The specialty retailer reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.35. The firm had revenue of $717.14 million for the quarter, compared to analyst estimates of $685.45 million. Etsy had a return on equity of 83.06% and a net margin of 21.19%. The business’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, analysts expect that Etsy, Inc. will post 3.29 earnings per share for the current year.

Several brokerages have recently issued reports on ETSY. Stifel Nicolaus reduced their price objective on Etsy from $230.00 to $200.00 in a research note on Friday, February 25th. Wedbush reduced their price objective on Etsy from $250.00 to $185.00 in a research note on Friday, February 25th. Guggenheim reduced their price target on Etsy from $330.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, January 7th. BTIG Research reduced their price target on Etsy from $230.00 to $195.00 in a research report on Friday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Etsy in a research report on Friday, March 11th. They set a “hold” rating and a $145.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $211.05.

About Etsy (Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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.

See Also

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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