FFT Wealth Management LLC Takes $212,000 Position in Etsy, Inc. (NASDAQ:ETSY)

FFT Wealth Management LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, HoldingsChannel reports. The firm bought 2,610 shares of the specialty retailer’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Etsy by 27.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,100 shares of the specialty retailer’s stock worth $2,913,000 after purchasing an additional 9,800 shares during the last quarter. Xponance Inc. raised its position in shares of Etsy by 8.1% in the 3rd quarter. Xponance Inc. now owns 25,867 shares of the specialty retailer’s stock worth $1,670,000 after purchasing an additional 1,946 shares during the last quarter. Raymond James & Associates raised its position in shares of Etsy by 2.0% in the 3rd quarter. Raymond James & Associates now owns 110,563 shares of the specialty retailer’s stock worth $7,140,000 after purchasing an additional 2,204 shares during the last quarter. Rovin Capital UT ADV raised its position in shares of Etsy by 28.6% in the 3rd quarter. Rovin Capital UT ADV now owns 5,483 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Concord Wealth Partners raised its position in shares of Etsy by 9,333.3% in the 3rd quarter. Concord Wealth Partners now owns 1,981 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Shares of NASDAQ:ETSY traded down $11.92 on Thursday, hitting $57.82. 7,390,180 shares of the company’s stock were exchanged, compared to its average volume of 3,706,621. Etsy, Inc. has a 12 month low of $56.60 and a 12 month high of $102.81. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 4.81 and a beta of 2.00. The business’s 50 day simple moving average is $68.28 and its two-hundred day simple moving average is $71.65.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. Equities analysts forecast that Etsy, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was 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 owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,968 shares of company stock worth $4,836,827. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Loop Capital lowered Etsy from a “hold” rating to a “sell” rating and decreased their target price for the stock from $70.00 to $50.00 in a research report on Thursday. The Goldman Sachs Group lowered Etsy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $84.00 to $80.00 in a research report on Wednesday, January 10th. Piper Sandler boosted their target price on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Truist Financial lowered their price objective on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company lowered their price objective on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.67.

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.