Long Focus Capital Management LLC Acquires New Stake in Etsy, Inc. (NASDAQ:ETSY)

Long Focus Capital Management LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 280,100 shares of the specialty retailer's stock, valued at approximately $14,814,000. Long Focus Capital Management LLC owned approximately 0.25% of Etsy at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Etsy by 313.1% in the third 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. Versant Capital Management Inc lifted 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 valued at $44,000 after acquiring an additional 499 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Etsy by 1.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer's stock valued at $2,594,000 after acquiring an additional 816 shares in the last quarter. Cooper Financial Group boosted its stake in Etsy by 4.7% during the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer's stock valued at $764,000 after purchasing an additional 642 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Etsy in the 4th quarter worth $280,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ETSY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the company a "hold" rating in a report on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Etsy from $45.00 to $35.00 and set a "sell" rating for the company in a research note on Tuesday. Truist Financial lowered their price objective 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. Finally, Piper Sandler cut their target price on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.00.

Etsy Stock Performance

Shares of Etsy stock opened at $45.93 on Wednesday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $71.72. The company has a market capitalization of $4.92 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.57 and a beta of 2.15. The company has a fifty day moving average of $47.33 and a 200 day moving average of $51.42.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $28,593.60. This trade represents a 70.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was 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 a total of 50,952 shares of company stock valued at $2,554,620 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.