Marshall Wace LLP Acquires 257,764 Shares of Etsy, Inc. (NASDAQ:ETSY)

Marshall Wace LLP increased its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 6,522.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 261,716 shares of the specialty retailer's stock after acquiring an additional 257,764 shares during the period. Marshall Wace LLP owned about 0.23% of Etsy worth $13,842,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Etsy during the 4th quarter worth approximately $74,235,000. Assenagon Asset Management S.A. increased its stake in shares of 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 worth $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares during the period. Van ECK Associates Corp lifted its position in shares of Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after buying an additional 522,111 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after acquiring an additional 411,165 shares during the period. Institutional investors own 99.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Etsy from $45.00 to $35.00 and set a "sell" rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their target price on shares of Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a report on Wednesday, April 2nd. Canaccord Genuity Group cut their price objective on shares of Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. 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. Finally, Stifel Nicolaus dropped their price target on Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.75.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, the insider now directly owns 592 shares in the company, valued at $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,952 shares of company stock worth $2,554,620 in the last quarter. 2.60% of the stock is owned by insiders.

Etsy Trading Down 0.5 %

NASDAQ:ETSY traded down $0.24 on Thursday, hitting $45.55. The company had a trading volume of 6,496,269 shares, compared to its average volume of 3,849,207. The firm has a 50 day moving average of $47.11 and a two-hundred day moving average of $51.38. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy Company 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.