Brooklyn FI LLC Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Brooklyn FI LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 98,140 shares of the specialty retailer’s stock, valued at approximately $5,229,000.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after buying an additional 56,772 shares during the last quarter. Renaissance Technologies LLC increased its position in Etsy by 4.5% in the 4th 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 period. Van ECK Associates Corp increased its position in Etsy by 17.4% in the 4th 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 period. DAVENPORT & Co LLC boosted its holdings in Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Finally, Norges Bank purchased a new stake in Etsy in the 4th quarter valued at approximately $74,235,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Performance

Etsy stock opened at $47.60 on Monday. The firm has a market cap of $4.96 billion, a PE ratio of 20.08, a P/E/G ratio of 2.57 and a beta of 1.78. The firm’s 50 day moving average price is $45.57 and its two-hundred day moving average price is $50.70. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.93.

Etsy (NASDAQ:ETSY) last posted 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). 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 quarter in the previous year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer now directly owns 2,896 shares of the company’s stock, valued at $136,140.96. This represents a 44.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,752 shares of company stock worth $2,473,662. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

ETSY has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Etsy in a research note on Wednesday, April 30th. Morgan Stanley reduced 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. Stifel Nicolaus reduced their target price on Etsy from $51.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial reduced their target price on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their target price on Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a research note 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’s stock. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target 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.