Prospera Private Wealth LLC Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Prospera Private Wealth LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,063 shares of the specialty retailer’s stock, valued at approximately $59,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in 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 purchasing an additional 231 shares during the last quarter. UMB Bank n.a. lifted its position in Etsy by 112.3% in the 3rd quarter. UMB Bank n.a. now owns 552 shares of the specialty retailer’s stock worth $31,000 after buying an additional 292 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Etsy in the second quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Etsy during the third quarter valued at approximately $43,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Etsy by 25.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,241 shares of the specialty retailer’s stock worth $73,000 after acquiring an additional 253 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.15, for a total transaction of $39,862.50. Following the completion of the sale, the insider now directly owns 25,121 shares in the company, valued at approximately $1,335,181.15. The trade was a 2.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $30,257.12. This trade represents a 70.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,369 shares of company stock worth $280,200 in the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wedbush reduced their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a report on Thursday, October 31st. Loop Capital dropped their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, Evercore ISI raised Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Four investment 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’s stock. According to MarketBeat.com, Etsy presently has a consensus rating of “Hold” and a consensus target price of $64.87.

Etsy Stock Up 2.2 %

NASDAQ ETSY opened at $51.98 on Friday. The stock’s 50 day moving average is $52.03 and its 200 day moving average is $56.75. The firm has a market capitalization of $5.85 billion, a PE ratio of 26.52, a P/E/G ratio of 5.95 and a beta of 1.99. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $89.58.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 30th. The specialty retailer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Etsy had a negative return on equity of 46.79% and a net margin of 9.17%. The business had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $652.47 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts anticipate that Etsy, Inc. will post 2.25 earnings per share for the current year.

Etsy announced that its Board of Directors has initiated a stock 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 purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.