TD Asset Management Inc Increases Holdings in Etsy, Inc. (NASDAQ:ETSY)

TD Asset Management Inc raised its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 16.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,540,465 shares of the specialty retailer’s stock after acquiring an additional 221,275 shares during the period. TD Asset Management Inc’s holdings in Etsy were worth $105,861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Etsy during the fourth quarter valued at approximately $27,000. Sunbelt Securities Inc. raised its holdings in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Etsy in the fourth quarter valued at $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 0.4 %

Shares of Etsy stock traded down $0.23 on Thursday, hitting $64.72. 1,040,863 shares of the company traded hands, compared to its average volume of 3,599,835. The company has a market cap of $7.57 billion, a PE ratio of 30.11, a PEG ratio of 5.34 and a beta of 2.02. The stock’s 50 day moving average price is $61.33 and its 200-day moving average price is $67.08. Etsy, Inc. has a 52 week low of $55.08 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Etsy, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETSY. Loop Capital downgraded shares of Etsy from a “hold” rating to a “sell” rating and decreased their price target for the company from $70.00 to $50.00 in a research note on Thursday, May 2nd. JMP Securities cut shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Barclays dropped their price target on Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Guggenheim decreased their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Morgan Stanley lowered their price objective on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.88.

Insider Activity

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

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.