Charles Schwab Investment Management Inc. Purchases 122,126 Shares of Etsy, Inc. (NASDAQ:ETSY)

Charles Schwab Investment Management Inc. raised its position in Etsy, Inc. (NASDAQ:ETSY) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,131,020 shares of the specialty retailer’s stock after buying an additional 122,126 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Etsy were worth $59,820,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in Etsy in the fourth quarter valued at approximately $38,000. Versant Capital Management Inc boosted its holdings in shares of Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after buying an additional 499 shares during the period. Blue Trust Inc. boosted its holdings in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 426 shares during the period. Denver PWM LLC boosted its holdings in shares of Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 289 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Etsy in the third quarter valued at approximately $59,000. Institutional investors own 99.53% of the company’s stock.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock valued at $1,286,445 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Cantor Fitzgerald reduced their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and upped their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and reduced their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. 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 equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Price Performance

Shares of ETSY stock opened at $44.93 on Thursday. The stock has a market cap of $4.81 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.57 and a beta of 2.23. The company has a fifty day moving average price of $52.95 and a two-hundred day moving average price of $53.43. Etsy, Inc. has a one year low of $44.15 and a one year high of $72.05.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS 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.