11,424 Shares in Etsy, Inc. (NASDAQ:ETSY) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,424 shares of the specialty retailer's stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETSY. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Etsy in the third quarter valued at about $55,530,000. Holocene Advisors LP bought a new stake in shares of Etsy during the third quarter valued at approximately $49,061,000. Assenagon Asset Management S.A. raised its holdings in Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Victory Capital Management Inc. lifted its position in Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock valued at $42,982,000 after buying an additional 711,572 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Etsy by 17.4% during the 4th 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 in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now directly owns 20,698 shares of the company's stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,666 shares of company stock valued at $1,286,445. Insiders own 2.60% of the company's stock.

Remove Ads

Etsy Trading Up 3.8 %

Shares of ETSY traded up $1.76 during midday trading on Tuesday, reaching $47.62. 2,161,271 shares of the stock were exchanged, compared to its average volume of 3,589,961. The company has a market capitalization of $5.10 billion, a P/E ratio of 20.08, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72. The company's 50 day moving average is $51.41 and its two-hundred day moving average is $52.79.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its 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 net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million for the quarter, compared to analysts' expectations of $861.37 million. During the same period in the prior year, the business earned $0.62 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ETSY shares. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. JPMorgan Chase & Co. initiated coverage on shares of Etsy in a report on Wednesday, March 19th. They set a "neutral" rating and a $50.00 target price for the company. Canaccord Genuity Group cut their price target on Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Citigroup decreased their price objective on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Finally, Moffett Nathanson boosted their target price on shares of Etsy from $60.00 to $61.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.42.

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.