Landscape Capital Management L.L.C. Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Landscape Capital Management L.L.C. purchased a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,323 shares of the specialty retailer's stock, valued at approximately $1,075,000.

Several other institutional investors and hedge funds have also bought and sold shares of ETSY. Lindbrook Capital LLC grew its position in 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 last quarter. Summit Securities Group LLC bought a new position in Etsy in the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in Etsy in the fourth quarter valued at approximately $38,000. Versant Capital Management Inc grew its stake in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after buying an additional 499 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock worth $46,000 after buying an additional 426 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Activity

In other Etsy 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 value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company's stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,952 shares of company stock worth $2,554,620 over the last quarter. Insiders own 2.60% of the company's stock.

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Etsy Stock Performance

ETSY traded up $0.02 during midday trading on Friday, reaching $43.60. 3,353,881 shares of the company were exchanged, compared to its average volume of 3,807,877. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a one year low of $40.05 and a one year high of $71.72. The company's fifty day moving average price is $48.78 and its 200 day moving average price is $51.89.

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 business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. Etsy's revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a report on Thursday, February 20th. Truist Financial lowered their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. UBS Group cut their target price on shares of Etsy from $54.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday. Piper Sandler decreased their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Canaccord Genuity Group dropped their price target on shares of Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $56.71.

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.