CIBC Private Wealth Group LLC Has $2.80 Million Position in Etsy, Inc. (NASDAQ:ETSY)

CIBC Private Wealth Group LLC increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 2,298.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,444 shares of the specialty retailer's stock after buying an additional 50,257 shares during the period. CIBC Private Wealth Group LLC's holdings in Etsy were worth $2,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Etsy in the fourth quarter worth $37,000. Kestra Investment Management LLC acquired a new position in Etsy during the 4th quarter valued at about $38,000. Versant Capital Management Inc grew its position in Etsy by 153.1% in the 4th 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. Finally, Blue Trust Inc. increased its stake in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 426 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday, March 19th. They set a "neutral" rating and a $50.00 price target for the company. Loop Capital dropped their target price on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut Etsy to a "hold" rating and decreased their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Wells Fargo & Company cut their target price on shares of Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, Citigroup reduced their price objective on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $58.38.

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Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at $1,534,582.14. The trade was a 40.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the sale, the insider now owns 592 shares in the company, valued at $28,593.60. The trade was a 70.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 over the last 90 days. 2.60% of the stock is owned by company insiders.

Etsy Stock Performance

ETSY traded down $3.99 during midday trading on Friday, reaching $44.42. 7,964,597 shares of the company were exchanged, compared to its average volume of 3,762,340. The stock has a market capitalization of $4.76 billion, a P/E ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. The stock's 50-day simple moving average is $50.45 and its 200 day simple moving average is $52.43. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.