Geneos Wealth Management Inc. Increases Stake in Etsy, Inc. (NASDAQ:ETSY)

Geneos Wealth Management Inc. boosted its position in shares of Etsy, Inc. (NASDAQ:ETSYFree Report) by 1,298.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,931 shares of the specialty retailer’s stock after acquiring an additional 3,650 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Etsy were worth $208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JBGlobal.com LLC bought a new position in shares of Etsy during the fourth quarter valued at approximately $404,000. Lmcg Investments LLC purchased a new stake in Etsy in the fourth quarter worth $1,435,000. Ameritas Advisory Services LLC boosted its stake in shares of Etsy by 3.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer’s stock valued at $881,000 after purchasing an additional 631 shares during the period. Merit Financial Group LLC bought a new position in shares of Etsy in the fourth quarter worth about $204,000. Finally, Assenagon Asset Management S.A. increased its stake in Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ETSY. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their target price for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Stifel Nicolaus reduced their price objective on Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Morgan Stanley dropped their price target on Etsy from $47.00 to $45.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Bank of America decreased their price objective on Etsy from $61.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Raymond James dropped their target price on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.42.

Get Our Latest Stock Analysis on ETSY

Etsy Stock Down 1.3 %

Shares of NASDAQ:ETSY opened at $55.05 on Thursday. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $80.30. The business has a 50-day moving average price of $55.07 and a 200-day moving average price of $54.62. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.55 and a beta of 1.99.

Etsy (NASDAQ:ETSYGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $662.40 million during the quarter, compared to analyst estimates of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. Etsy’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, equities analysts anticipate that Etsy, Inc. will post 2.26 EPS for the current fiscal year.

Etsy announced that its board has initiated a share buyback 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 usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $52.50, for a total transaction of $39,375.00. Following the completion of the sale, the insider now directly owns 24,371 shares in the company, valued at approximately $1,279,477.50. The trade was a 2.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Etsy Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSYFree Report).

Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

Receive News & Ratings for Etsy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Etsy and related companies with MarketBeat.com's FREE daily email newsletter.