Keybank National Association OH Makes New $240,000 Investment in Etsy, Inc. (NASDAQ:ETSY)

Keybank National Association OH bought a new stake in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,539 shares of the specialty retailer’s stock, valued at approximately $240,000.

A number of other institutional investors also recently modified their holdings of the business. Denver PWM LLC raised its stake in Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 289 shares in the last quarter. Gagnon Securities LLC raised its position in shares of Etsy by 7.9% in the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 376 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 426 shares during the period. Coldstream Capital Management Inc. grew its position in Etsy by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock worth $239,000 after buying an additional 448 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its holdings in 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. Institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy 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 completion of the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 over the last quarter. Company insiders own 2.60% of the company’s stock.

Etsy Trading Down 3.7 %

Shares of ETSY stock opened at $46.87 on Wednesday. Etsy, Inc. has a 1-year low of $45.85 and a 1-year high of $73.25. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.57 and a beta of 2.23. The stock has a 50-day moving average of $52.95 and a 200-day moving average of $53.43.

Etsy (NASDAQ:ETSY) last released its quarterly 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. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same quarter last year, the business earned $0.62 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ETSY. Morgan Stanley reduced their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Citigroup dropped their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Truist Financial lowered their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group raised 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 report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.78.

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.