Jacobs Levy Equity Management Inc. Buys 27,638 Shares of Etsy, Inc. (NASDAQ:ETSY)

Jacobs Levy Equity Management Inc. grew its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 120.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,514 shares of the specialty retailer’s stock after acquiring an additional 27,638 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Etsy were worth $2,672,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC boosted its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Hurley Capital LLC acquired a new position in shares of Etsy in the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Etsy in the 4th quarter valued at $34,000. Summit Securities Group LLC acquired a new stake in Etsy during the 4th quarter worth $37,000. Finally, Kestra Investment Management LLC acquired a new position in Etsy in the fourth quarter valued at about $38,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of ETSY stock opened at $47.00 on Friday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The company has a market cap of $4.90 billion, a PE ratio of 19.83, a P/E/G ratio of 2.57 and a beta of 1.78. The stock’s fifty day moving average price is $45.36 and its two-hundred day moving average price is $50.88.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on ETSY shares. Wells Fargo & Company decreased their price objective on Etsy from $46.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Etsy and gave the stock a “hold” rating in a research report on Monday, April 14th. Citigroup cut their price objective on shares of Etsy from $53.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group lowered their target price on Etsy from $35.00 to $31.00 and set a “sell” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital cut their price target on Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.14.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,618 shares of company stock valued at $3,469,803. 2.60% of the stock is owned by insiders.

About Etsy

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.