Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,421,641 shares of the specialty retailer's stock after acquiring an additional 235,550 shares during the quarter. Renaissance Technologies LLC owned approximately 4.82% of Etsy worth $286,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ETSY. Lindbrook Capital LLC grew its holdings in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after buying an additional 181 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of Etsy in the fourth quarter worth about $32,000. Summit Securities Group LLC bought a new position in Etsy during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in Etsy during the 4th quarter valued at approximately $38,000. Finally, Versant Capital Management Inc raised its holdings in shares of Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Activity at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was 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 50,952 shares of company stock valued at $2,554,620 over the last quarter. 2.60% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ETSY. Jefferies Financial Group raised shares of Etsy from an "underperform" rating to a "hold" rating and raised their target price for the company from $45.00 to $55.00 in a report on Monday, January 13th. Canaccord Genuity Group decreased their target price on shares of Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Bank of America dropped their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Cantor Fitzgerald cut their target price on Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $56.71.

Etsy Price Performance

Shares of NASDAQ:ETSY traded up $0.02 during trading hours on Friday, hitting $43.60. The company's stock had a trading volume of 3,353,881 shares, compared to its average volume of 3,816,032. The firm's fifty day moving average price is $48.78 and its 200 day moving average price is $51.86. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $71.72. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.57 and a beta of 2.15.

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, topping analysts' consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. Etsy's revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share 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.