7,698 Shares in Etsy, Inc. (NASDAQ:ETSY) Acquired by Miller Financial Services LLC

Miller Financial Services LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,698 shares of the specialty retailer’s stock, valued at approximately $407,000.

Several other hedge funds also recently made changes to their positions in the stock. Lindbrook Capital LLC raised its stake in Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Etsy in the 4th quarter worth $38,000. Capital Performance Advisors LLP bought a new stake in Etsy in the third quarter worth $43,000. Versant Capital Management Inc boosted 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 buying an additional 499 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Etsy by 95.1% during 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 last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $48.65 on Tuesday. The stock’s 50-day simple moving average is $53.17 and its 200-day simple moving average is $53.53. The firm has a market capitalization of $5.21 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $73.48.

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, 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 business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the previous year, the firm earned $0.62 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was 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 $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the transaction, the insider now directly owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETSY has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald decreased their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Moffett Nathanson raised their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus decreased their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.78.

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.