Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 174.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,270 shares of the specialty retailer's stock after buying an additional 189,741 shares during the quarter. Trexquant Investment LP owned about 0.27% of Etsy worth $15,776,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ETSY. Norges Bank acquired a new position in Etsy in the fourth quarter valued at $74,235,000. Holocene Advisors LP acquired a new stake in shares of Etsy in the 3rd quarter valued at about $49,061,000. Assenagon Asset Management S.A. grew its stake 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 worth $78,827,000 after buying an additional 850,520 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock valued at $42,982,000 after acquiring an additional 711,572 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after acquiring an additional 522,111 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ETSY shares. Truist Financial decreased their target price on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Etsy to a "hold" rating and cut their target price for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Etsy in a report on Thursday, February 20th. Citigroup reduced their price target on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Finally, Morgan Stanley dropped their price target on Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a research report on Thursday, February 20th. Four 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, the company currently has an average rating of "Hold" and a consensus target price of $58.38.

Etsy Trading Down 8.2 %

NASDAQ:ETSY traded down $3.99 on Friday, hitting $44.42. 7,964,597 shares of the stock were exchanged, compared to its average volume of 3,762,340. The stock has a market cap of $4.76 billion, a PE ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The stock has a fifty day moving average of $50.45 and a 200-day moving average of $52.43.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its 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 business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same quarter last year, the firm posted $0.62 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at $28,593.60. This trade represents a 70.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,952 shares of company stock worth $2,554,620. 2.60% of the stock is currently owned by corporate insiders.

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.