Brooklyn FI LLC Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Brooklyn FI LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 98,140 shares of the specialty retailer's stock, valued at approximately $5,229,000. Brooklyn FI LLC owned about 0.09% of Etsy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC increased its holdings in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Etsy in the fourth quarter valued at about $38,000. Versant Capital Management Inc increased 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 purchasing an additional 499 shares during the period. Blue Trust Inc. increased 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 purchasing an additional 426 shares during the period. Finally, Denver PWM LLC increased 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 purchasing an additional 289 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETSY. Cantor Fitzgerald cut their price objective on Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Truist Financial dropped their target price on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Etsy from $44.00 to $47.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and increased their price target for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Finally, Loop Capital decreased their target price on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $58.42.

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Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction 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. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now directly owns 20,698 shares of the company's stock, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,666 shares of company stock worth $1,286,445. Corporate insiders own 2.60% of the company's stock.

Etsy Price Performance

ETSY stock traded up $0.18 during mid-day trading on Friday, hitting $45.11. 11,112,880 shares of the stock were exchanged, compared to its average volume of 3,589,848. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The business has a fifty day moving average price of $51.57 and a 200 day moving average price of $52.88. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, equities analysts forecast 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.