KLP Kapitalforvaltning AS Invests $1.27 Million in Etsy, Inc. (NASDAQ:ETSY)

KLP Kapitalforvaltning AS acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,000 shares of the specialty retailer’s stock, valued at approximately $1,269,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Etsy by 28.9% during the 3rd quarter. Cerity Partners LLC now owns 22,884 shares of the specialty retailer’s stock worth $1,271,000 after buying an additional 5,128 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Etsy in the third quarter valued at about $222,000. CreativeOne Wealth LLC purchased a new stake in shares of Etsy in the third quarter valued at about $238,000. BlueCrest Capital Management Ltd purchased a new position in shares of Etsy during the 3rd quarter worth approximately $222,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Etsy during the 3rd quarter worth approximately $1,876,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETSY has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley decreased their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Etsy in a research report on Wednesday, March 19th. They issued a “neutral” rating and a $50.00 price objective for the company. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.42.

Etsy Stock Down 0.5 %

Shares of ETSY stock opened at $46.69 on Friday. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The firm’s 50 day moving average price is $50.93 and its two-hundred day moving average price is $52.63. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal 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.