New Age Alpha Advisors LLC Invests $6.12 Million in Etsy, Inc. (NASDAQ:ETSY)

New Age Alpha Advisors LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 115,653 shares of the specialty retailer's stock, valued at approximately $6,117,000. New Age Alpha Advisors LLC owned about 0.10% of Etsy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ETSY. Vanguard Group Inc. grew its position in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after purchasing an additional 56,772 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Etsy by 17.4% during 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 during the last quarter. DAVENPORT & Co LLC increased its position in shares of Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after acquiring an additional 188,386 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Etsy in the fourth quarter worth $74,235,000. 99.53% of the stock is currently owned by institutional investors.

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Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the firm's 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 transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ETSY has been the subject of several research analyst reports. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Loop Capital decreased their price objective on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an "underperform" rating to a "hold" rating and raised their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Wells Fargo & Company boosted their target price on shares of Etsy from $44.00 to $47.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Etsy in a report on Monday, December 16th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Etsy has an average rating of "Hold" and an average target price of $58.42.

Etsy Stock Up 1.9 %

NASDAQ ETSY traded up $0.87 during trading on Monday, hitting $47.56. 1,704,189 shares of the stock traded hands, compared to its average volume of 3,706,758. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The firm has a 50-day simple moving average of $50.93 and a 200-day simple moving average of $52.64. The company has a market capitalization of $5.09 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same period last year, the firm posted $0.62 earnings per share. Etsy's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict 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.