Boyd Watterson Asset Management LLC OH Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Boyd Watterson Asset Management LLC OH purchased a new position in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 20,716 shares of the specialty retailer’s stock, valued at approximately $1,096,000.

A number of other hedge funds have also recently made changes to their positions in ETSY. Blue Trust Inc. grew its stake in Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Etsy in the 4th quarter worth approximately $38,000. Capital Performance Advisors LLP bought a new position in shares of Etsy during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc lifted its position in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Etsy during the third quarter valued at approximately $59,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on 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 owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETSY. Wells Fargo & Company upped their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday. Stifel Nicolaus reduced their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday. Loop Capital lowered their price target on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday. Barclays cut their price objective on shares of Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.08.

Etsy Stock Down 0.3 %

Etsy stock opened at $51.26 on Friday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $74.82. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.55 and a beta of 2.00. The business’s 50-day moving average price is $54.43 and its 200 day moving average price is $53.78.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter last year, the company earned $0.62 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Equities analysts expect that Etsy, Inc. will post 2.6 EPS for the current year.

Etsy declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.