Kettle Hill Capital Management LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Kettle Hill Capital Management LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 115,021 shares of the specialty retailer’s stock, valued at approximately $6,083,000. Etsy makes up 1.3% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 26th biggest holding.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock valued at $651,056,000 after buying an additional 56,772 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock valued at $286,751,000 after acquiring an additional 235,550 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC boosted its position in Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after purchasing an additional 188,386 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position 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 valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Performance

Etsy stock opened at $46.94 on Friday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The stock has a market cap of $4.89 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. The firm’s fifty day moving average price is $45.44 and its 200-day moving average price is $50.94.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million for the quarter, compared to analysts’ expectations of $642.22 million. During the same quarter in the previous year, the business earned $0.48 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the transaction, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $43.09, for a total value of $933,587.94. Following the sale, the chief executive officer now owns 53,484 shares of the company’s stock, valued at $2,304,625.56. This represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,618 shares of company stock worth $3,469,803 in the last quarter. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

ETSY has been the subject of a number of research analyst reports. B. Riley decreased their price objective on shares of Etsy from $62.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the stock a “hold” rating in a report on Monday, April 14th. Barclays reduced their price objective on Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Morgan Stanley lowered their target price on Etsy from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Etsy from $50.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus target price of $50.14.

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.