Aster Capital Management DIFC Ltd Invests $599,000 in Etsy, Inc. (NASDAQ:ETSY)

Aster Capital Management DIFC Ltd purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,331 shares of the specialty retailer’s stock, valued at approximately $599,000.

Several other large investors also recently bought and sold shares of ETSY. Vanguard Group Inc. raised its holdings in shares of Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock worth $651,056,000 after acquiring an additional 56,772 shares during the period. Van ECK Associates Corp increased its position 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 last quarter. DAVENPORT & Co LLC raised its stake in Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after purchasing an additional 188,386 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Etsy in the 4th quarter valued at approximately $74,235,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total transaction of $72,360.00. Following the transaction, the insider now owns 34,822 shares of the company’s stock, valued at $1,679,813.28. The trade was a 4.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETSY. Wells Fargo & Company decreased their price objective on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley reduced their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and lowered their price target for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Truist Financial reduced their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group dropped their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $58.38.

Etsy Stock Performance

NASDAQ:ETSY opened at $44.42 on Monday. Etsy, Inc. has a 1 year low of $42.00 and a 1 year high of $71.72. The stock has a market cap of $4.76 billion, a P/E ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15. The stock has a 50-day simple moving average of $50.45 and a 200-day simple moving average of $52.42.

Etsy (NASDAQ:ETSY) last announced its quarterly 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. The company 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 firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities research analysts predict that Etsy, Inc. will post 2.57 EPS 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.