Victory Capital Management Inc. Grows Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Victory Capital Management Inc. grew its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 703.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 812,671 shares of the specialty retailer's stock after acquiring an additional 711,572 shares during the quarter. Victory Capital Management Inc. owned about 0.72% of Etsy worth $42,982,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $38,000. Capital Performance Advisors LLP acquired a new stake in shares of Etsy during the third quarter worth $43,000. Versant Capital Management Inc lifted its holdings in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after purchasing an additional 499 shares during the period. Blue Trust Inc. lifted its holdings in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock worth $46,000 after purchasing an additional 426 shares during the period. Finally, Denver PWM LLC lifted its holdings in shares of Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock worth $58,000 after purchasing an additional 289 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Etsy Stock Performance

ETSY stock traded down $1.78 during trading on Tuesday, hitting $46.87. The stock had a trading volume of 4,975,678 shares, compared to its average volume of 3,561,368. The company's 50 day moving average price is $52.95 and its two-hundred day moving average price is $53.43. Etsy, Inc. has a 1-year low of $45.85 and a 1-year high of $73.25. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

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Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS 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 company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the company posted $0.62 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now directly 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 a total of 24,666 shares of company stock valued at $1,286,445 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETSY shares. Jefferies Financial Group raised Etsy from an "underperform" rating to a "hold" rating and increased their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Moffett Nathanson increased their price target on Etsy from $60.00 to $61.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Citigroup decreased their price target on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a "hold" rating and decreased their target price for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $58.78.

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.