Sequoia Financial Advisors LLC Purchases Shares of 4,110 Etsy, Inc. (NASDAQ:ETSY)

Sequoia Financial Advisors LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,110 shares of the specialty retailer’s stock, valued at approximately $333,000.

Several other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock valued at $19,977,000 after buying an additional 57,785 shares during the period. Northern Trust Corp lifted its holdings in shares of Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after buying an additional 48,934 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Etsy by 201.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer’s stock valued at $37,291,000 after buying an additional 387,467 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Etsy in the 4th quarter valued at about $38,490,000. Finally, CVA Family Office LLC acquired a new position in shares of Etsy in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the firm’s 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 transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,968 shares of company stock worth $4,836,827. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETSY. Morgan Stanley reaffirmed an “underweight” rating and issued a $55.00 price target (down previously from $65.00) on shares of Etsy in a report on Thursday. BTIG Research reduced their price target on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Piper Sandler upped their price target on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays upped their price target on Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, UBS Group reduced their price target on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.48.

Etsy Price Performance

ETSY stock opened at $67.34 on Friday. The business has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $71.33. The firm has a market capitalization of $7.98 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 4.77 and a beta of 2.01. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $104.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

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.