Optimize Financial Inc Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Optimize Financial Inc bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,906 shares of the specialty retailer's stock, valued at approximately $524,000.

Several other large investors have also recently modified their holdings of the business. Lindbrook Capital LLC boosted its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after acquiring an additional 218 shares during the period. Heron Bay Capital Management grew its position in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock valued at $1,072,000 after purchasing an additional 258 shares in the last quarter. Denver PWM LLC raised its stake in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after purchasing an additional 289 shares during the period. Finally, Gagnon Securities LLC lifted its holdings in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock worth $272,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Price Performance

NASDAQ ETSY traded down $0.15 during trading on Tuesday, hitting $43.50. 2,714,257 shares of the company's stock traded hands, compared to its average volume of 3,809,346. The stock has a fifty day moving average of $48.31 and a two-hundred day moving average of $51.71. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $71.72. The firm has a market cap of $4.66 billion, a P/E ratio of 18.35, a PEG ratio of 2.57 and a beta of 2.15.

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Etsy (NASDAQ:ETSY - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $861.37 million. During the same period last year, the company earned $0.62 EPS. Etsy's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on 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 approximately $260,458.20. This represents a 81.24 % decrease in their position. 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 quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Etsy from $54.00 to $46.00 and set a "neutral" rating for the company in a report on Friday. Canaccord Genuity Group reduced their price objective 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. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. JMP Securities reissued a "market perform" rating on shares of Etsy in a report on Monday, December 16th. Finally, Cantor Fitzgerald decreased their price target on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Etsy has a consensus rating of "Hold" and an average price target of $56.58.

About Etsy

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.