First Trust Advisors LP Acquires Shares of 217,552 Etsy, Inc. (NASDAQ:ETSY)

First Trust Advisors LP bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 217,552 shares of the specialty retailer's stock, valued at approximately $11,506,000. First Trust Advisors LP owned approximately 0.19% of Etsy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its position in Etsy by 7.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 121,454 shares of the specialty retailer's stock worth $6,419,000 after buying an additional 8,927 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Etsy by 72.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 381,500 shares of the specialty retailer's stock valued at $20,178,000 after acquiring an additional 159,700 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Etsy in the 4th quarter valued at $34,000. Marshall Wace LLP boosted its stake in Etsy by 6,522.4% during the 4th quarter. Marshall Wace LLP now owns 261,716 shares of the specialty retailer's stock worth $13,842,000 after purchasing an additional 257,764 shares during the period. Finally, Jump Financial LLC purchased a new position in Etsy during the 4th quarter worth $5,171,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 0.7 %

NASDAQ:ETSY opened at $45.86 on Monday. The company has a market capitalization of $4.83 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The firm has a 50-day moving average price of $46.64 and a two-hundred day moving average price of $51.32. Etsy, Inc. has a twelve month low of $40.05 and a twelve month 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. 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 during the quarter, compared to analysts' expectations of $861.37 million. During the same period last year, the company posted $0.62 EPS. The company's 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 year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. UBS Group lowered their target price on Etsy from $54.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Etsy in a research note on Thursday, February 20th. Canaccord Genuity Group lowered their price objective on shares of Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group cut 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, April 22nd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Etsy presently has a consensus rating of "Hold" and an average target price of $55.54.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company'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 sold a total of 50,952 shares of company stock valued at $2,554,620 over the last three months. 2.60% of the stock is currently owned by insiders.

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.

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