Creative Planning Has $859,000 Holdings in Etsy, Inc. (NASDAQ:ETSY)

Creative Planning trimmed its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,469 shares of the specialty retailer’s stock after selling 408 shares during the quarter. Creative Planning’s holdings in Etsy were worth $859,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. increased its holdings in shares of Etsy by 112.3% during the third quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC increased its stake in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Etsy in the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new stake in shares of Etsy during the 1st quarter valued at $59,000. Finally, GAMMA Investing LLC grew its holdings in shares of Etsy by 25.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock worth $73,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. This trade represents a 0.00 % decrease in their position. The transaction 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 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. Insiders have sold 4,619 shares of company stock worth $240,825 over the last ninety days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of analyst reports. Citigroup dropped their price target on Etsy from $65.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Etsy in a research report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Etsy in a research report on Monday, October 7th. Evercore ISI raised shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $64.87.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $52.77 on Friday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The firm has a market cap of $6.06 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97. The firm’s fifty day moving average is $52.60 and its 200-day moving average is $58.15.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a negative return on equity of 47.52% and a net margin of 9.17%. The company had revenue of $662.40 million for the quarter, compared to analyst estimates of $652.47 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts forecast that Etsy, Inc. will post 2.37 EPS for the current year.

Etsy announced that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 17.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.