Boyd Watterson Asset Management LLC OH Invests $1.10 Million in Etsy, Inc. (NASDAQ:ETSY)

Boyd Watterson Asset Management LLC OH acquired a new position in Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,716 shares of the specialty retailer’s stock, valued at approximately $1,096,000.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock worth $26,000 after buying an additional 231 shares during the period. Kestra Investment Management LLC purchased a new stake in Etsy in the 4th quarter worth approximately $38,000. Capital Performance Advisors LLP bought a new stake in Etsy during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc boosted its position in shares of Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 499 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Etsy in the third quarter worth $59,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Down 0.3 %

NASDAQ:ETSY opened at $51.26 on Friday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.55 and a beta of 2.00. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $74.82. The stock has a fifty day simple moving average of $54.43 and a 200-day simple moving average of $53.78.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million during 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 firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, equities research analysts predict that Etsy, Inc. will post 2.6 EPS for the current fiscal year.

Etsy declared that its board has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 17.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ETSY shares. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Moffett Nathanson boosted their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Morgan Stanley decreased their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Barclays dropped their price target on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus target price of $60.08.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by company insiders.

Etsy Company 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.