98,140 Shares in Etsy, Inc. (NASDAQ:ETSY) Acquired by Brooklyn FI LLC

Brooklyn FI LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,140 shares of the specialty retailer’s stock, valued at approximately $5,229,000. Brooklyn FI LLC owned approximately 0.09% of Etsy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC increased its position in shares of Etsy by 55.7% during 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 in the last quarter. Kestra Investment Management LLC bought a new stake in Etsy during the fourth quarter worth about $38,000. Versant Capital Management Inc increased its holdings 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 buying an additional 499 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 426 shares in the last quarter. Finally, Denver PWM LLC grew its position in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 289 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Stock Down 3.5 %

Shares of ETSY stock opened at $44.66 on Wednesday. Etsy, Inc. has a 12-month low of $43.75 and a 12-month high of $71.72. The firm has a fifty day moving average of $52.06 and a 200-day moving average of $53.07. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.84, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ETSY. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $45.00 to $55.00 in a research report on Monday, January 13th. Canaccord Genuity Group reduced their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and lowered their price objective for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Etsy in a research report on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $58.78.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated 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 owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is owned by corporate insiders.

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.