Tairen Capital Ltd Has $1.85 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Tairen Capital Ltd raised its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 75.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the specialty retailer’s stock after purchasing an additional 15,000 shares during the quarter. Tairen Capital Ltd’s holdings in Etsy were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ETSY. Norges Bank bought a new position in shares of Etsy in the fourth quarter valued at approximately $74,235,000. Victory Capital Management Inc. raised its stake in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock valued at $42,982,000 after acquiring an additional 711,572 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 522,111 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer’s stock valued at $47,042,000 after acquiring an additional 419,038 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Etsy in the 4th quarter worth approximately $19,412,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on ETSY shares. Piper Sandler dropped their price objective on shares of Etsy from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus dropped their price objective on shares of Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Barclays dropped their price objective on shares of Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. 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. Finally, UBS Group dropped their price objective on shares of Etsy from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $50.14.

Etsy Stock Up 0.0%

Shares of ETSY stock opened at $47.02 on Monday. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.93. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. The firm has a fifty day moving average of $45.37 and a 200-day moving average of $50.90.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $642.22 million. During the same period last year, the firm earned $0.48 EPS. Etsy’s quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In related 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,418 shares of company stock valued at $3,601,377 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.