ExodusPoint Capital Management LP Has $4.86 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

ExodusPoint Capital Management LP boosted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 73.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,837 shares of the specialty retailer's stock after buying an additional 38,855 shares during the period. ExodusPoint Capital Management LP owned 0.08% of Etsy worth $4,857,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC increased its holdings in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 181 shares during the period. Summit Securities Group LLC bought a new stake in shares of Etsy during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new position in shares of Etsy during the fourth quarter worth approximately $38,000. Versant Capital Management Inc grew its holdings in Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after buying an additional 499 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock valued at $46,000 after acquiring an additional 426 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Price Performance

Etsy stock traded up $0.02 during trading hours on Friday, hitting $43.60. The company had a trading volume of 3,353,881 shares, compared to its average volume of 3,807,877. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $71.72. The firm has a market capitalization of $4.67 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The firm's fifty day moving average is $48.78 and its 200-day moving average is $51.89.

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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 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 period in the prior year, the business posted $0.62 earnings per share. Etsy's revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial reduced their price target on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group raised shares of Etsy from an "underperform" rating to a "hold" rating and upped their price objective for the stock from $45.00 to $55.00 in a report on Monday, January 13th. JMP Securities reissued a "market perform" rating on shares of Etsy in a research note on Monday, December 16th. Stifel Nicolaus decreased their price objective on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a report on Thursday, February 20th. Finally, Citigroup decreased their price target on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $56.71.

Insiders Place Their Bets

In related news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares of the company's stock, valued at approximately $1,534,582.14. The trade was a 40.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 in the last three months. Insiders own 2.60% of the company's stock.

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.