KLP Kapitalforvaltning AS Buys New Shares in Etsy, Inc. (NASDAQ:ETSY)

KLP Kapitalforvaltning AS bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 24,000 shares of the specialty retailer's stock, valued at approximately $1,269,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of 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 acquiring an additional 181 shares during the period. Kestra Investment Management LLC bought a new stake in Etsy in the 4th quarter valued at $38,000. Versant Capital Management Inc grew its position 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 purchasing an additional 499 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Etsy by 95.1% during 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 during the period. Finally, Denver PWM LLC lifted its stake in shares of Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ETSY shares. Citigroup reduced their target price on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. UBS Group reduced their price objective on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Canaccord Genuity Group lowered their target price on shares of Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a "hold" rating and cut their price target for the stock from $45.00 to $43.00 in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Four 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $58.38.

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Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $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 have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Etsy Stock Up 4.1 %

Shares of ETSY traded up $2.00 during trading hours on Wednesday, reaching $50.53. The stock had a trading volume of 2,685,263 shares, compared to its average volume of 3,711,946. The company has a market cap of $5.41 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72. The firm has a 50-day moving average of $50.74 and a 200 day moving average of $52.55.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.