Grandeur Peak Global Advisors LLC Reduces Position in Etsy, Inc. (NASDAQ:ETSY)

Grandeur Peak Global Advisors LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 94.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,214 shares of the specialty retailer's stock after selling 160,752 shares during the period. Grandeur Peak Global Advisors LLC's holdings in Etsy were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ETSY. Vanguard Group Inc. lifted its position in shares of Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after buying an additional 56,772 shares during the last quarter. Renaissance Technologies LLC raised its position in Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after acquiring an additional 235,550 shares in the last quarter. Van ECK Associates Corp boosted its holdings in 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 buying an additional 522,111 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after purchasing an additional 188,386 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Etsy by 132.9% in 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 acquiring an additional 850,520 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

Etsy Price Performance

ETSY stock traded up $1.63 during midday trading on Thursday, reaching $44.15. 2,900,653 shares of the company were exchanged, compared to its average volume of 3,803,796. Etsy, Inc. has a one year low of $40.05 and a one year high of $71.72. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The business has a 50-day moving average price of $48.07 and a two-hundred day moving average price of $51.65.

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

Insider Transactions at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction that occurred on 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 owns 592 shares in the company, valued at $28,593.60. The trade was a 70.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was 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 50,952 shares of company stock worth $2,554,620 over the last ninety days. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of Etsy from an "underperform" rating to a "hold" rating and lifted their target price for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Stifel Nicolaus decreased their price objective on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. UBS Group cut their target price on Etsy from $54.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut their target price on Etsy from $47.00 to $46.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 2nd. Finally, Bank of America lowered their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Four equities 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 issued a strong buy rating to the company. According to MarketBeat, Etsy presently has a consensus rating of "Hold" and a consensus target price of $56.42.

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.