Contrarius Group Holdings Ltd Invests $11.74 Million in Etsy, Inc. (NASDAQ:ETSY)

Contrarius Group Holdings Ltd bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 222,055 shares of the specialty retailer's stock, valued at approximately $11,744,000. Etsy accounts for 0.7% of Contrarius Group Holdings Ltd's portfolio, making the stock its 26th biggest holding. Contrarius Group Holdings Ltd owned 0.20% of Etsy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ETSY. Pacer Advisors Inc. lifted its position in Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Etsy in the third quarter worth $55,530,000. Holocene Advisors LP bought a new stake in Etsy during the 3rd quarter valued at $49,061,000. Assenagon Asset Management S.A. boosted its position in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after buying an additional 850,520 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after acquiring an additional 711,572 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ETSY. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a "hold" rating and dropped their target price for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Etsy from $44.00 to $47.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. began coverage on Etsy in a research note on Wednesday, March 19th. They set a "neutral" rating and a $50.00 target price on the stock. Moffett Nathanson raised their price target on Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $58.42.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now 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 sold 24,666 shares of company stock worth $1,286,445 over the last quarter. 2.60% of the stock is currently owned by insiders.

Etsy Price Performance

ETSY stock traded up $0.75 during trading on Monday, hitting $45.86. 4,416,708 shares of the stock traded hands, compared to its average volume of 3,593,160. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72. The firm's 50 day moving average is $51.41 and its two-hundred day moving average is $52.79.

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