Xponance Inc. Buys 2,578 Shares of Etsy, Inc. (NASDAQ:ETSY)

Xponance Inc. grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,609 shares of the specialty retailer’s stock after acquiring an additional 2,578 shares during the period. Xponance Inc.’s holdings in Etsy were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ETSY. Lindbrook Capital LLC raised its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Etsy in the 4th quarter valued at $38,000. Versant Capital Management Inc raised its position in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 499 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 426 shares during the period. Finally, Denver PWM LLC increased its position in Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 289 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ETSY. Truist Financial reduced their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Loop Capital lowered their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, Canaccord Genuity Group cut their target price on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.42.

Etsy Price Performance

Shares of Etsy stock opened at $45.86 on Tuesday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. The stock’s 50-day moving average is $51.41 and its 200-day moving average is $52.79. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,666 shares of company stock valued at $1,286,445. Corporate insiders own 2.60% of the company’s stock.

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.