Modera Wealth Management LLC Sells 2,157 Shares of Etsy, Inc. (NASDAQ:ETSY)

Modera Wealth Management LLC lessened its position in Etsy, Inc. (NASDAQ:ETSY) by 23.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,231 shares of the specialty retailer’s stock after selling 2,157 shares during the quarter. Modera Wealth Management LLC’s holdings in Etsy were worth $382,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Etsy by 218.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,491 shares of the specialty retailer’s stock worth $80,000 after acquiring an additional 1,023 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Etsy in the fourth quarter valued at $116,000. Proficio Capital Partners LLC bought a new position in Etsy in the fourth quarter valued at $604,000. Los Angeles Capital Management LLC acquired a new stake in Etsy in the 4th quarter valued at $492,000. Finally, Impax Asset Management Group plc lifted its position in Etsy by 11.3% during the 4th quarter. Impax Asset Management Group plc now owns 111,261 shares of the specialty retailer’s stock worth $5,885,000 after buying an additional 11,261 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 0.8 %

NASDAQ:ETSY opened at $49.46 on Wednesday. The stock has a 50 day simple moving average of $53.65 and a 200 day simple moving average of $53.70. The stock has a market cap of $5.30 billion, a P/E ratio of 20.87, a PEG ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $73.48.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter last year, the firm earned $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the business’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 value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ETSY shares. Morgan Stanley decreased their price objective on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and raised their price target for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Wells Fargo & Company upped their price objective on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Canaccord Genuity Group decreased their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average target price of $58.78.

Etsy 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.