Cetera Investment Advisers Has $955,000 Position in Etsy Inc $ETSY

Cetera Investment Advisers grew its stake in Etsy Inc (NYSE:ETSY) by 92.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,100 shares of the company’s stock after acquiring an additional 9,173 shares during the period. Cetera Investment Advisers’ holdings in Etsy were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. EFG International AG bought a new stake in Etsy in the 4th quarter valued at about $33,000. Danske Bank A S bought a new stake in shares of Etsy in the third quarter valued at approximately $66,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of Etsy by 22.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock valued at $67,000 after buying an additional 225 shares during the period. Blue Trust Inc. grew its position in Etsy by 19.3% during the first quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock worth $62,000 after buying an additional 200 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Etsy during the 3rd quarter worth $93,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Frederick R. Wilson sold 20,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $83.22, for a total value of $1,664,400.00. Following the completion of the sale, the director directly owned 421,329 shares in the company, valued at $35,062,999.38. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Merilee Buckley sold 881 shares of Etsy stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $75.35, for a total value of $66,383.35. Following the transaction, the chief accounting officer directly owned 405 shares in the company, valued at $30,516.75. The trade was a 68.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 604,262 shares of company stock valued at $45,085,166 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Etsy Price Performance

ETSY opened at $80.07 on Friday. Etsy Inc has a fifty-two week low of $44.00 and a fifty-two week high of $87.97. The company’s 50 day moving average price is $78.65 and its two-hundred day moving average price is $64.37. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 5.53 and a beta of 1.84.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research cut Etsy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. President Capital upgraded Etsy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $91.00 in a research report on Thursday, June 25th. JPMorgan Chase & Co. raised Etsy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $100.00 in a research note on Friday, August 7th. BTIG Research cut shares of Etsy from a “buy” rating to a “neutral” rating in a research report on Thursday, July 16th. Finally, Piper Sandler increased their price objective on shares of Etsy from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.50.

Etsy Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.