United Advisor Group LLC Makes New $220,000 Investment in Etsy, Inc. (NASDAQ:ETSY)

United Advisor Group LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,970 shares of the specialty retailer’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETSY. Blue Trust Inc. boosted its holdings in shares of Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 231 shares during the period. UMB Bank n.a. boosted its holdings in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC grew its position in shares of Etsy by 1,576.5% during the 1st 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. 1620 Investment Advisors Inc. acquired a new stake in Etsy during the second quarter worth approximately $42,000. Finally, Headlands Technologies LLC acquired a new position in Etsy in the 1st quarter valued at $59,000. Institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $85,660.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $85,660.36. The disclosure for this sale can be found here. Insiders sold a total of 5,369 shares of company stock valued at $280,200 over the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James dropped their price target on Etsy from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Etsy in a research note on Monday, October 7th. Barclays cut their price objective on Etsy from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their price target on Etsy from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.87.

Etsy Stock Up 0.7 %

Shares of NASDAQ ETSY opened at $53.08 on Thursday. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $89.58. The company has a market cap of $6.09 billion, a P/E ratio of 27.08, a P/E/G ratio of 6.19 and a beta of 1.99. The business has a 50-day simple moving average of $52.45 and a two-hundred day simple moving average of $57.78.

Etsy (NASDAQ:ETSY) last issued 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 business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $652.47 million. Etsy had a net margin of 9.17% and a negative return on equity of 46.79%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts anticipate that Etsy, Inc. will post 2.27 EPS for the current year.

Etsy declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.