Johnson Financial Group Inc. Acquires 1,138 Shares of Etsy, Inc. (NASDAQ:ETSY)

Johnson Financial Group Inc. raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 862.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,270 shares of the specialty retailer’s stock after purchasing an additional 1,138 shares during the quarter. Johnson Financial Group Inc.’s holdings in Etsy were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ETSY. Lindbrook Capital LLC lifted its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Hurley Capital LLC purchased a new position in Etsy during the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in shares of Etsy in the 4th quarter worth approximately $37,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Etsy in the 4th quarter worth approximately $38,000. 99.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Etsy from $50.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price target on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Truist Financial lowered their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Loop Capital lowered their price target on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Etsy has a consensus rating of “Hold” and a consensus price target of $55.38.

Etsy Price Performance

NASDAQ:ETSY opened at $45.88 on Tuesday. The firm has a market capitalization of $4.83 billion, a P/E ratio of 19.36, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The company’s fifty day moving average price is $46.53 and its 200-day moving average price is $51.29.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. Equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 over the last 90 days. 2.60% of the stock is currently owned by company 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.