Northern Trust Corp Boosts Stake in Etsy, Inc. (NASDAQ:ETSY)

Northern Trust Corp raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,758 shares of the specialty retailer’s stock after buying an additional 141,853 shares during the period. Northern Trust Corp’s holdings in Etsy were worth $40,818,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ETSY. Lindbrook Capital LLC grew its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after purchasing an additional 218 shares during the period. Heron Bay Capital Management grew its holdings 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 worth $1,072,000 after purchasing an additional 258 shares during the last quarter. Denver PWM LLC increased its stake in Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after buying an additional 289 shares during the period. Finally, Gagnon Securities LLC lifted its holdings in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 376 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Truist Financial reduced their price objective on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Evercore ISI lowered their target price on Etsy from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group cut their price target on Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and a consensus target price of $50.14.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy 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 owns 5,004 shares of the company’s stock, valued at $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,618 shares of company stock worth $3,469,803. 2.60% of the stock is owned by company insiders.

Etsy Price Performance

Shares of ETSY stock opened at $47.85 on Friday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. The stock’s fifty day moving average price is $45.50 and its 200 day moving average price is $50.95. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.93.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same period in the prior year, the firm posted $0.48 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current 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.