LGT Fund Management Co Ltd. Invests $272,000 in Etsy, Inc. (NASDAQ:ETSY)

LGT Fund Management Co Ltd. bought a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,137 shares of the specialty retailer's stock, valued at approximately $272,000.

Other large investors also recently bought and sold shares of the company. Meritage Portfolio Management raised its stake in shares of Etsy by 152.4% during the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer's stock worth $14,698,000 after buying an additional 159,820 shares in the last quarter. DJE Kapital AG purchased a new stake in Etsy during the 4th quarter worth about $983,000. Pacer Advisors Inc. grew its stake in Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer's stock worth $331,067,000 after acquiring an additional 3,861,668 shares during the period. Principal Financial Group Inc. increased its stake in shares of Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after acquiring an additional 411,165 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer's stock worth $6,576,000 after buying an additional 85,396 shares during the period. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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Etsy Stock Down 0.3 %

NASDAQ:ETSY traded down $0.15 during trading hours on Friday, reaching $46.80. 3,500,579 shares of the company's stock were exchanged, compared to its average volume of 3,548,931. The company has a market capitalization of $5.01 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00. The business's 50-day simple moving average is $53.29 and its two-hundred day simple moving average is $53.59. Etsy, Inc. has a 12 month low of $45.85 and a 12 month high of $73.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ETSY shares. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Citigroup reduced their target price on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Morgan Stanley lowered their target price on shares of Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. Finally, Truist Financial dropped their price target on 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, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.78.

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.