D.A. Davidson & CO. Grows Stock Position in Etsy, Inc. (NASDAQ:ETSY)

D.A. Davidson & CO. boosted its holdings in Etsy, Inc. (NASDAQ:ETSY) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,580 shares of the specialty retailer’s stock after acquiring an additional 184 shares during the period. D.A. Davidson & CO.’s holdings in Etsy were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of Etsy by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 230,214 shares of the specialty retailer’s stock worth $14,867,000 after purchasing an additional 7,019 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Etsy by 8.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 34,288 shares of the specialty retailer’s stock worth $2,214,000 after buying an additional 2,588 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Etsy by 33.1% in the third quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock worth $71,000 after acquiring an additional 274 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Etsy in the third quarter valued at $119,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Etsy by 3,841.7% in the third quarter. Assenagon Asset Management S.A. now owns 126,016 shares of the specialty retailer’s stock valued at $8,138,000 after acquiring an additional 122,819 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETSY has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Barclays cut their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI decreased their target price on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Truist Financial cut their price target on Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Piper Sandler increased their price target on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.96.

Etsy Stock Performance

Shares of Etsy stock opened at $60.62 on Friday. Etsy, Inc. has a 1 year low of $56.60 and a 1 year high of $102.81. The firm’s 50-day simple moving average is $65.71 and its 200-day simple moving average is $71.48. The firm has a market cap of $7.09 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 4.94 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. On average, equities analysts predict that Etsy, Inc. will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 over the last ninety days. 2.60% of the stock is owned by insiders.

About Etsy

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.