Vanguard Group Inc. Grows Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Vanguard Group Inc. grew its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,309,622 shares of the specialty retailer's stock after purchasing an additional 56,772 shares during the quarter. Vanguard Group Inc. owned about 10.94% of Etsy worth $651,056,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake 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 purchasing an additional 181 shares during the period. Larson Financial Group LLC boosted its position 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 valued at $144,000 after acquiring an additional 218 shares during the period. Heron Bay Capital Management boosted 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 acquiring an additional 258 shares during the period. Denver PWM LLC increased its holdings in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock worth $58,000 after acquiring an additional 289 shares during the period. Finally, Gagnon Securities LLC lifted its stake in Etsy by 7.9% in 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.

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Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were 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 of the company's stock, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $1,286,445 over the last 90 days. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Etsy in a report on Monday, December 16th. JPMorgan Chase & Co. initiated coverage on Etsy in a report on Wednesday, March 19th. They issued a "neutral" rating and a $50.00 price target on the stock. Truist Financial cut 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. 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 research note on Monday, January 13th. Finally, Stifel Nicolaus dropped their target price on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. Four equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $58.38.

Etsy Trading Up 3.9 %

NASDAQ ETSY traded up $1.89 on Wednesday, hitting $50.42. The company's stock had a trading volume of 5,018,133 shares, compared to its average volume of 3,720,559. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The firm has a market cap of $5.40 billion, a P/E ratio of 21.27, a PEG ratio of 2.57 and a beta of 2.15. The company's 50-day simple moving average is $50.74 and its 200 day simple moving average is $52.55.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating 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 business had revenue of $852.16 million for the quarter, compared to analysts' expectations of $861.37 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.