FFT Wealth Management LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

FFT Wealth Management LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,610 shares of the specialty retailer’s stock, valued at approximately $212,000.

A number of other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new position in shares of Etsy in the 3rd quarter valued at $28,000. Tompkins Financial Corp purchased a new stake in Etsy in the 4th quarter valued at $41,000. Harvest Fund Management Co. Ltd purchased a new stake in Etsy in the 4th quarter valued at $49,000. Finally, KB Financial Partners LLC raised its position 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 purchasing an additional 417 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial reduced their price target on shares of Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Needham & Company LLC reduced their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Wedbush reduced their price target on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, Evercore ISI cut their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.67.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now directly owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 63,047 shares of the firm’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 completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,968 shares of company stock valued at $4,836,827. Insiders own 2.60% of the company’s stock.

Etsy Trading Down 17.1 %

Shares of Etsy stock traded down $11.92 during mid-day trading on Thursday, hitting $57.82. 7,390,180 shares of the stock were exchanged, compared to its average volume of 3,706,621. Etsy, Inc. has a twelve month low of $56.60 and a twelve 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 company has a 50-day simple moving average of $68.28 and a 200 day simple moving average of $71.65.

Etsy (NASDAQ:ETSY) last released 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. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The company had revenue of $842.32 million for the quarter, compared to analysts’ expectations of $827.40 million. Equities research analysts forecast that Etsy, Inc. will post 2.56 earnings per share for the current fiscal 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.