11,424 Shares in Etsy, Inc. (NASDAQ:ETSY) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,424 shares of the specialty retailer’s stock, valued at approximately $604,000.

Several other hedge funds also recently modified their holdings of ETSY. Van ECK Associates Corp grew its holdings in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after purchasing an additional 522,111 shares during the period. DAVENPORT & Co LLC increased its stake in Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Etsy by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock valued at $59,820,000 after buying an additional 122,126 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Etsy in the third quarter valued at $55,530,000. Institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ETSY. Loop Capital dropped their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Moffett Nathanson upped their price target on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. Wells Fargo & Company raised their price objective on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Etsy in a report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 target price on the stock. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.42.

Insider Activity

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Performance

Shares of ETSY opened at $45.11 on Monday. The company’s 50-day simple moving average is $51.57 and its 200-day simple moving average is $52.86. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72. The stock has a market capitalization of $4.83 billion, a PE ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy Company 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.