Cerity Partners LLC Raises Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Cerity Partners LLC increased its stake in Etsy, Inc. (NASDAQ:ETSY) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,437 shares of the specialty retailer’s stock after acquiring an additional 1,178 shares during the quarter. Cerity Partners LLC’s holdings in Etsy were worth $4,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after acquiring an additional 57,785 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Etsy by 4.3% during the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after buying an additional 48,934 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Etsy by 201.5% during the third quarter. DAVENPORT & Co LLC now owns 579,791 shares of the specialty retailer’s stock worth $37,291,000 after buying an additional 387,467 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Etsy during the fourth quarter worth $38,490,000. Finally, CVA Family Office LLC purchased a new stake in shares of Etsy during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of research reports. Barclays upped their target price on shares of Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Evercore ISI dropped their target price on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Etsy in a report on Friday, March 1st. The Goldman Sachs Group cut shares of Etsy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.84.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Etsy Stock Performance

Shares of ETSY opened at $67.49 on Thursday. The stock has a market capitalization of $8.00 billion, a PE ratio of 30.13, a P/E/G ratio of 4.66 and a beta of 2.01. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $104.93. The company’s 50-day simple moving average is $70.04 and its 200-day simple moving average is $71.36.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.