Virtu Financial LLC Takes $696,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Virtu Financial LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,152 shares of the specialty retailer's stock, valued at approximately $696,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ETSY. Van ECK Associates Corp grew its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after purchasing an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after buying an additional 188,386 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after acquiring an additional 850,520 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Etsy by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock valued at $59,820,000 after acquiring an additional 122,126 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Etsy in the third quarter valued at approximately $55,530,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Etsy Trading Up 0.5 %

Shares of Etsy stock traded up $0.23 during trading hours on Thursday, reaching $46.92. The stock had a trading volume of 2,694,979 shares, compared to its average volume of 3,599,858. Etsy, Inc. has a twelve month low of $43.43 and a twelve month high of $71.72. The firm has a market capitalization of $5.02 billion, a PE ratio of 19.80, a PEG ratio of 2.57 and a beta of 2.23. The stock's 50 day moving average is $51.05 and its 200 day moving average is $52.67.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ETSY. Canaccord Genuity Group decreased their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Loop Capital decreased their price target on Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price target on Etsy from $44.00 to $47.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Finally, JMP Securities reissued a "market perform" rating on shares of Etsy in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Etsy currently has an average rating of "Hold" and an average target price of $58.42.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction dated 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 directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 22,198 shares of the company's stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by company insiders.

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.