Florida Financial Advisors LLC Invests $347,000 in Etsy, Inc. (NASDAQ:ETSY)

Florida Financial Advisors LLC acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,560 shares of the specialty retailer’s stock, valued at approximately $347,000.

Other institutional investors have also made changes to their positions in the company. Mutual of America Capital Management LLC grew its stake in Etsy by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock valued at $958,000 after purchasing an additional 2,502 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Etsy by 28.9% in the third quarter. Cerity Partners LLC now owns 22,884 shares of the specialty retailer’s stock valued at $1,271,000 after buying an additional 5,128 shares in the last quarter. Bridgewater Associates LP increased its holdings in Etsy by 136.1% during the third quarter. Bridgewater Associates LP now owns 307,395 shares of the specialty retailer’s stock worth $17,070,000 after buying an additional 177,216 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Etsy during the third quarter worth $222,000. Finally, Blueshift Asset Management LLC lifted its stake in Etsy by 8.4% in the third quarter. Blueshift Asset Management LLC now owns 7,135 shares of the specialty retailer’s stock valued at $396,000 after acquiring an additional 551 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock worth $1,286,445 in the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ETSY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. UBS Group dropped their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Loop Capital cut their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and decreased their target price for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.42.

Etsy Stock Up 4.3 %

ETSY stock opened at $47.82 on Wednesday. The company’s 50-day moving average price is $51.30 and its two-hundred day moving average price is $52.75. The firm has a market cap of $5.12 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72.

Etsy (NASDAQ:ETSY) last announced 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. The business had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities analysts predict that Etsy, Inc. will post 2.57 EPS 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.