Vinva Investment Management Ltd Invests $205,000 in Etsy, Inc. $ETSY

Vinva Investment Management Ltd bought a new stake in Etsy, Inc. (NASDAQ:ETSY) in the second quarter, Holdings Channel.com reports. The institutional investor bought 4,089 shares of the specialty retailer’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also modified their holdings of ETSY. Employees Retirement System of Texas purchased a new stake in Etsy in the 2nd quarter worth about $47,000. Choreo LLC increased its holdings in shares of Etsy by 125.2% in the 2nd quarter. Choreo LLC now owns 11,954 shares of the specialty retailer’s stock valued at $600,000 after purchasing an additional 6,645 shares during the period. Inceptionr LLC acquired a new position in shares of Etsy in the 2nd quarter valued at about $476,000. XTX Topco Ltd purchased a new stake in shares of Etsy in the second quarter worth approximately $1,498,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Etsy by 0.6% during the second quarter. Ameritas Investment Partners Inc. now owns 28,705 shares of the specialty retailer’s stock worth $1,440,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ:ETSY opened at $54.35 on Friday. The company has a 50-day moving average of $64.37 and a 200-day moving average of $59.58. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 10.65 and a beta of 1.87. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $76.51.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $655.83 million. During the same period in the prior year, the firm posted $0.45 EPS. Etsy’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $61.46, for a total transaction of $1,331,592.36. Following the sale, the chief executive officer owned 78,946 shares of the company’s stock, valued at $4,852,021.16. This represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Goyal Kruti Patel sold 7,685 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $576,451.85. Following the completion of the transaction, the insider owned 54,840 shares of the company’s stock, valued at $4,113,548.40. This trade represents a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 377,605 shares of company stock valued at $24,893,486. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ETSY shares. Jefferies Financial Group boosted their price target on shares of Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a report on Friday, October 17th. Truist Financial boosted their target price on Etsy from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Moffett Nathanson reaffirmed a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Zacks Research upgraded Etsy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, BNP Paribas Exane initiated coverage on Etsy in a report on Monday, November 24th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.38.

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.