Wynn Capital LLC Purchases New Shares in Etsy, Inc. (NASDAQ:ETSY)

Wynn Capital LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,685 shares of the specialty retailer’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in shares of Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC bought a new stake in shares of Etsy during the 3rd quarter worth approximately $28,000. Tompkins Financial Corp bought a new stake in Etsy in the 4th quarter valued at $41,000. Harvest Fund Management Co. Ltd bought a new stake in Etsy in the 4th quarter valued at $49,000. Finally, KB Financial Partners LLC raised its stake in Etsy by 99.5% in the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 417 shares during the period. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ETSY shares. Wedbush lowered their price objective on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group reduced their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Truist Financial reduced their target price on Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company reduced their target price on Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, Morgan Stanley reissued an “underweight” rating and set a $55.00 target price (down from $65.00) on shares of Etsy in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.46.

Etsy Price Performance

Shares of ETSY traded down $0.64 during mid-day trading on Thursday, hitting $66.23. The stock had a trading volume of 556,666 shares, compared to its average volume of 3,664,697. The firm has a market cap of $7.75 billion, a P/E ratio of 29.48, a PEG ratio of 4.76 and a beta of 2.01. The business has a fifty day moving average price of $69.12 and a 200-day moving average price of $71.50. Etsy, Inc. has a 52 week low of $58.20 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, research analysts expect that Etsy, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Etsy 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.