Advisors Asset Management Inc. Buys 16,458 Shares of Etsy, Inc. (NASDAQ:ETSY)

Advisors Asset Management Inc. grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 12.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 146,865 shares of the specialty retailer’s stock after buying an additional 16,458 shares during the period. Advisors Asset Management Inc.’s holdings in Etsy were worth $10,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ETSY. CVA Family Office LLC bought a new stake in Etsy in the 4th quarter valued at $27,000. Sunbelt Securities Inc. boosted its position in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the period. Larson Financial Group LLC raised its position in Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 536 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Etsy during the fourth quarter worth about $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 3.0 %

Shares of NASDAQ:ETSY traded up $1.84 during midday trading on Friday, hitting $62.27. The company had a trading volume of 3,003,016 shares, compared to its average volume of 3,583,892. Etsy, Inc. has a 12 month low of $55.08 and a 12 month high of $102.81. The firm has a fifty day simple moving average of $61.13 and a 200 day simple moving average of $66.45. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 4.94 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities analysts forecast that Etsy, Inc. will post 2.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of recent research reports. JMP Securities cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Barclays cut their price objective on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company lowered their target price on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Guggenheim cut their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Oppenheimer decreased their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Insider Buying and Selling at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

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.