Etsy, Inc. (NASDAQ:ETSY) Stake Boosted by Trexquant Investment LP

Trexquant Investment LP raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 174.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,270 shares of the specialty retailer’s stock after purchasing an additional 189,741 shares during the period. Trexquant Investment LP owned about 0.27% of Etsy worth $15,776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lindbrook Capital LLC grew its position in shares of 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 during the last quarter. Summit Securities Group LLC acquired a new position in Etsy in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new position in shares of Etsy during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc raised its position 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 purchasing an additional 499 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Etsy by 95.1% in the 4th 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 last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ETSY shares. Citigroup lowered their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. UBS Group lowered their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their price target for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and reduced their price objective for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $58.42.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now 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. Over the last 90 days, insiders sold 24,666 shares of company stock valued at $1,286,445. Insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $48.53 on Wednesday. The company has a market capitalization of $5.20 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The stock has a fifty day moving average of $50.74 and a 200-day moving average of $52.55. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the business posted $0.62 earnings per share. Etsy’s revenue was up 1.2% compared to the same quarter last year. As a group, 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.