KLP Kapitalforvaltning AS Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

KLP Kapitalforvaltning AS acquired a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 24,000 shares of the specialty retailer's stock, valued at approximately $1,269,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Holocene Advisors LP acquired a new position in Etsy during the 3rd quarter worth approximately $49,061,000. Assenagon Asset Management S.A. grew its stake in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares in the last quarter. Van ECK Associates Corp raised its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after buying an additional 522,111 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after buying an additional 411,165 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction on 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 owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock valued at $2,554,620 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ETSY shares. Canaccord Genuity Group dropped their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered Etsy to a "hold" rating and dropped their price objective for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and raised their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. JMP Securities reiterated a "market perform" rating on shares of Etsy in a research note on Monday, December 16th. Finally, Truist Financial lowered their target price on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.38.

Etsy Stock Performance

ETSY traded down $2.01 on Thursday, hitting $48.41. 6,552,317 shares of the company were exchanged, compared to its average volume of 3,741,461. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The firm has a market capitalization of $5.18 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The business's fifty day moving average is $50.61 and its 200 day moving average is $52.51.

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, topping analysts' consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analysts' expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy 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.