Cerity Partners LLC Acquires 7,528 Shares of Etsy, Inc. (NASDAQ:ETSY)

Cerity Partners LLC boosted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,412 shares of the specialty retailer's stock after buying an additional 7,528 shares during the quarter. Cerity Partners LLC's holdings in Etsy were worth $1,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Hurley Capital LLC acquired a new position in shares of Etsy during the fourth quarter worth $32,000. Summit Securities Group LLC bought a new position in shares of Etsy in the 4th quarter valued at $37,000. Kestra Investment Management LLC bought a new position in Etsy in the fourth quarter valued at about $38,000. Finally, Versant Capital Management Inc boosted its stake in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $28,593.60. This trade represents a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock valued at $2,554,620 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Etsy Stock Performance

NASDAQ:ETSY traded up $1.39 during trading on Tuesday, reaching $45.93. The company's stock had a trading volume of 5,812,908 shares, compared to its average volume of 3,831,639. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $71.72. The firm has a 50 day moving average of $47.33 and a 200-day moving average of $51.42.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results 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 firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ETSY. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a "hold" rating in a report on Monday, April 14th. Bank of America lowered their target price on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Loop Capital reduced their price target on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, February 20th. Canaccord Genuity Group lowered their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Truist Financial reduced their target price on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Etsy presently has an average rating of "Hold" and an average price target of $56.00.

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.