Ameritas Advisory Services LLC Buys 1,560 Shares of Etsy, Inc. (NASDAQ:ETSY)

Ameritas Advisory Services LLC increased its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,568 shares of the specialty retailer’s stock after purchasing an additional 1,560 shares during the period. Ameritas Advisory Services LLC’s holdings in Etsy were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its holdings 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 buying an additional 429 shares during the period. EverSource Wealth Advisors LLC boosted its position in Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC grew its stake 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 valued at $39,000 after purchasing an additional 536 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Etsy in the 2nd quarter worth approximately $42,000. Finally, Principal Securities Inc. purchased a new position in shares of Etsy in the fourth quarter worth approximately $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 0.5 %

Shares of ETSY traded up $0.27 during trading hours on Thursday, reaching $55.50. 1,858,136 shares of the company traded hands, compared to its average volume of 3,554,841. The stock’s fifty day moving average price is $58.11 and its 200 day moving average price is $63.74. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a 12-month low of $51.45 and a 12-month high of $89.58.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, research analysts forecast that Etsy, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The disclosure for this sale can be found here. Insiders have sold a total of 2,694 shares of company stock worth $169,687 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a research report on Monday, July 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Evercore ISI raised Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Canaccord Genuity Group decreased their price objective on Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group cut their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued 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 price target of $71.55.

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.