180 Wealth Advisors LLC Grows Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

180 Wealth Advisors LLC lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 65.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,594 shares of the specialty retailer’s stock after acquiring an additional 3,806 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Etsy were worth $507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ETSY. Meritage Portfolio Management grew its stake in Etsy by 152.4% in the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after purchasing an additional 159,820 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Etsy in the 3rd quarter worth $834,000. Pacer Advisors Inc. grew its position in shares of Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after buying an additional 3,861,668 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Etsy by 313.1% during the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after buying an additional 411,165 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after acquiring an additional 85,396 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of ETSY stock opened at $53.41 on Wednesday. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $80.30. The firm has a market capitalization of $6.01 billion, a PE ratio of 27.25, a P/E/G ratio of 6.96 and a beta of 1.99. The stock’s 50-day simple moving average is $54.81 and its 200-day simple moving average is $55.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. During the same quarter last year, the company posted $0.64 EPS. Etsy’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts forecast that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its board has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 17.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

ETSY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Etsy from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group lowered shares of Etsy from a “neutral” rating to a “sell” rating and cut their price objective for the company from $70.00 to $45.00 in a report on Tuesday, October 15th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Etsy in a report on Monday, October 7th. Wells Fargo & Company dropped their target price on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Finally, JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.54.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at approximately $1,279,477.50. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

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.