Royce & Associates LP Takes $4.15 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Royce & Associates LP acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 78,531 shares of the specialty retailer’s stock, valued at approximately $4,154,000. Royce & Associates LP owned approximately 0.07% of Etsy as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC purchased a new position in shares of Etsy during the fourth quarter valued at about $606,000. Vestcor Inc purchased a new position in shares of Etsy during the fourth quarter valued at about $223,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Etsy during the fourth quarter valued at about $15,630,000. HighTower Advisors LLC purchased a new position in shares of Etsy during the fourth quarter valued at about $218,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Etsy in the 4th quarter valued at about $6,863,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ETSY shares. Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Moffett Nathanson increased their price target on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. UBS Group lowered their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Loop Capital lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and lowered their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.42.

Etsy Stock Up 0.1 %

Shares of ETSY stock opened at $44.72 on Thursday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.57 and a beta of 2.23. The company’s 50 day moving average is $51.88 and its 200 day moving average is $53.02. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) 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 company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period last year, the company posted $0.62 earnings per share. Etsy’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy 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 transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by insiders.

Etsy 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.