Vestmark Advisory Solutions Inc. Buys 1,226 Shares of Etsy, Inc. (NASDAQ:ETSY)

Posted by Defense World Staff on Apr 2nd, 2023

Vestmark Advisory Solutions Inc. increased its stake in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 12.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,272 shares of the specialty retailer’s stock after buying an additional 1,226 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Etsy were worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evoke Wealth LLC boosted its stake in Etsy by 304.6% during the 3rd quarter. Evoke Wealth LLC now owns 530 shares of the specialty retailer’s stock valued at $53,000 after purchasing an additional 399 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Etsy during the 3rd quarter valued at $34,000. Apollon Wealth Management LLC boosted its stake in Etsy by 8.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,534 shares of the specialty retailer’s stock valued at $354,000 after purchasing an additional 272 shares during the last quarter. Rovin Capital UT ADV boosted its stake in Etsy by 12.5% during the 3rd quarter. Rovin Capital UT ADV now owns 5,414 shares of the specialty retailer’s stock valued at $542,000 after purchasing an additional 602 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Etsy by 12.4% during the 3rd quarter. Bessemer Group Inc. now owns 6,429 shares of the specialty retailer’s stock valued at $644,000 after purchasing an additional 711 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors.

Etsy Trading Up 2.3 %

ETSY opened at $111.33 on Friday. The firm has a market cap of $13.88 billion, a P/E ratio of -19.40, a P/E/G ratio of 6.04 and a beta of 1.99. Etsy, Inc. has a 12 month low of $67.01 and a 12 month high of $149.91. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 4.10. The stock has a 50-day moving average of $123.47 and a 200 day moving average of $117.96.

Etsy (NASDAQ:ETSY – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The specialty retailer reported $0.77 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.05). The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $752.12 million. Etsy had a positive return on equity of 1,306.41% and a negative net margin of 27.06%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 EPS. As a group, research analysts forecast that Etsy, Inc. will post 2.62 EPS for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $106.38, for a total transaction of $2,218,023.00. Following the completion of the transaction, the chief executive officer now owns 107,305 shares in the company, valued at $11,415,105.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicholas Daniel sold 1,000 shares of Etsy stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $135.18, for a total transaction of $135,180.00. Following the completion of the sale, the insider now owns 3,309 shares of the company’s stock, valued at $447,310.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $106.38, for a total transaction of $2,218,023.00. Following the sale, the chief executive officer now directly owns 107,305 shares of the company’s stock, valued at approximately $11,415,105.90. The disclosure for this sale can be found here. Insiders sold 84,542 shares of company stock worth $10,179,556 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James increased their target price on Etsy from $115.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. TheStreet upgraded Etsy from a “d” rating to a “c-” rating in a research note on Wednesday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of Etsy in a research note on Thursday, February 23rd. UBS Group raised their target price on Etsy from $124.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Etsy in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.54.

Etsy Profile

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Etsy, Inc engages in the operation of an online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments: Etsy, Reverb, Depop, and Elo7. The company was founded in 2005 and is headquartered in New York, NY.