Trexquant Investment LP Purchases 189,741 Shares of Etsy, Inc. (NASDAQ:ETSY)

Trexquant Investment LP grew its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 174.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,270 shares of the specialty retailer's stock after purchasing an additional 189,741 shares during the period. Trexquant Investment LP owned about 0.27% of Etsy worth $15,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its position in 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 buying an additional 181 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Etsy during the 4th quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in shares of Etsy during the 4th quarter valued at $38,000. Versant Capital Management Inc grew its position in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after acquiring an additional 499 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock worth $46,000 after purchasing an additional 426 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Trading Down 4.0 %

Etsy stock traded down $2.01 during midday trading on Thursday, reaching $48.41. The stock had a trading volume of 6,552,317 shares, compared to its average volume of 3,741,461. The company has a fifty day moving average price of $50.61 and a two-hundred day moving average price of $52.51. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The company has a market capitalization of $5.18 billion, a P/E ratio of 20.43, a PEG ratio of 2.57 and a beta of 2.15.

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Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald reduced their price objective on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and increased their price objective for the company from $45.00 to $55.00 in a report on Monday, January 13th. Finally, UBS Group cut their target price on Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Four 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $58.38.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, 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 SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,952 shares of company stock valued at $2,554,620. Corporate insiders own 2.60% of the company's stock.

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.