Kestra Investment Management LLC Acquires Shares of 718 Etsy, Inc. (NASDAQ:ETSY)

Kestra Investment Management LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, Holdings Channel.com reports. The firm acquired 718 shares of the specialty retailer’s stock, valued at approximately $38,000.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its position in Etsy by 106.5% during the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Etsy in the third quarter worth about $43,000. Versant Capital Management Inc grew its holdings 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 last quarter. Prospera Private Wealth LLC bought a new position in shares of Etsy in the third quarter worth about $59,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Etsy by 370.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,162 shares of the specialty retailer’s stock worth $61,000 after purchasing an additional 915 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Etsy Stock Performance

ETSY stock opened at $51.26 on Friday. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.57 and a beta of 2.00. The firm has a 50-day simple moving average of $54.43 and a two-hundred day simple moving average of $53.78. Etsy, Inc. has a one year low of $47.10 and a one year high of $74.82.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm 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%. Etsy’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. As a group, equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Etsy in a report on Thursday. Canaccord Genuity Group cut their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Morgan Stanley lowered their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.78.

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.