Hennion & Walsh Asset Management Inc. Invests $492,000 in Etsy Inc $ETSY

Hennion & Walsh Asset Management Inc. acquired a new stake in Etsy Inc (NYSE:ETSY) during the second quarter, Holdings Channel.com reports. The firm acquired 6,537 shares of the company’s stock, valued at approximately $492,000.

A number of other hedge funds have also added to or reduced their stakes in ETSY. EFG International AG acquired a new position in Etsy in the fourth quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Danske Bank A S acquired a new position in shares of Etsy during the 3rd quarter valued at $66,000. Federation des caisses Desjardins du Quebec boosted its stake in Etsy by 22.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,210 shares of the company’s stock worth $67,000 after acquiring an additional 225 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Etsy in the fourth quarter valued at $79,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Price Performance

Shares of ETSY stock opened at $80.07 on Friday. The firm has a 50-day moving average of $78.65 and a 200-day moving average of $64.37. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The company has a market cap of $7.60 billion, a P/E ratio of 44.73, a P/E/G ratio of 5.53 and a beta of 1.84.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ETSY. Cantor Fitzgerald increased their price objective on shares of Etsy from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Sanford C. Bernstein upped their target price on Etsy from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. Argus upgraded Etsy from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Thursday, May 21st. Morgan Stanley set a $73.00 price objective on shares of Etsy in a research note on Friday, August 7th. Finally, UBS Group boosted their target price on shares of Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.50.

Insider Transactions at Etsy

In other news, CAO Merilee Buckley sold 881 shares of the business’s stock in a transaction that occurred on 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 owned 405 shares in the company, valued at $30,516.75. The trade was a 68.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 1,564 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $85.88, for a total value of $134,316.32. Following the completion of the transaction, the chief financial officer directly owned 11,357 shares of the company’s stock, valued at approximately $975,339.16. This represents a 12.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 604,262 shares of company stock worth $45,085,166. Company insiders own 2.50% of the company’s stock.

Etsy Company 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.