Smartleaf Asset Management LLC Has $80,000 Stake in Etsy, Inc. (NASDAQ:ETSY)

Smartleaf Asset Management LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 218.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after purchasing 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 approximately $55,530,000. Holocene Advisors LP acquired a new stake in Etsy during the 3rd quarter worth approximately $49,061,000. Assenagon Asset Management S.A. grew its holdings in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after acquiring an additional 850,520 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in 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 during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Etsy from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Morgan Stanley reduced their price target on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Citigroup decreased their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.78.

Etsy Stock Down 0.3 %

ETSY stock opened at $46.80 on Monday. The stock’s 50 day moving average is $53.17 and its 200-day moving average is $53.53. Etsy, Inc. has a twelve month low of $45.85 and a twelve month high of $73.48. The firm has a market capitalization of $5.01 billion, a PE ratio of 19.75, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating 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 business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period last year, the business earned $0.62 EPS. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. Corporate insiders own 2.60% of the company’s stock.

Etsy Company 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.