Stevens Capital Management LP Increases Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Stevens Capital Management LP raised its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 365.5% during the fourth quarter, Holdings Channel reports. The fund owned 28,622 shares of the specialty retailer’s stock after buying an additional 22,473 shares during the period. Stevens Capital Management LP’s holdings in Etsy were worth $2,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AE Wealth Management LLC grew its holdings in shares of Etsy by 7.9% in the third quarter. AE Wealth Management LLC now owns 13,680 shares of the specialty retailer’s stock worth $883,000 after purchasing an additional 998 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Etsy by 10.6% in the third quarter. DnB Asset Management AS now owns 24,339 shares of the specialty retailer’s stock worth $1,572,000 after purchasing an additional 2,333 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Etsy by 107.4% in the third quarter. Exchange Traded Concepts LLC now owns 17,739 shares of the specialty retailer’s stock worth $1,146,000 after purchasing an additional 9,186 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Etsy in the third quarter worth approximately $134,000. Finally, Czech National Bank grew its holdings in shares of Etsy by 47.2% in the third quarter. Czech National Bank now owns 21,500 shares of the specialty retailer’s stock worth $1,388,000 after purchasing an additional 6,897 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETSY has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Piper Sandler boosted their price objective on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Barclays boosted their price target on Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company decreased their price target on Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.46.

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now owns 2,827 shares in the company, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,968 shares of company stock valued at $4,836,827. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Up 0.3 %

NASDAQ ETSY traded up $0.23 during mid-day trading on Friday, hitting $67.43. The stock had a trading volume of 2,071,927 shares, compared to its average volume of 3,665,768. Etsy, Inc. has a 52-week low of $58.20 and a 52-week high of $102.81. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 4.65 and a beta of 2.01. The company has a 50 day simple moving average of $68.90 and a 200 day simple moving average of $71.47.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. As a group, equities analysts anticipate that Etsy, Inc. will post 2.58 earnings per share for the current fiscal year.

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.