Landscape Capital Management L.L.C. Makes New $1.08 Million Investment in Etsy, Inc. (NASDAQ:ETSY)

Landscape Capital Management L.L.C. purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,323 shares of the specialty retailer’s stock, valued at approximately $1,075,000.

Several other hedge funds have also made changes to their positions in ETSY. Lindbrook Capital LLC raised its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC grew its holdings in shares of Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after buying an additional 218 shares in the last quarter. Heron Bay Capital Management raised its position in Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after buying an additional 258 shares during the period. Denver PWM LLC lifted its stake in Etsy by 36.1% in 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 in the last quarter. Finally, Gagnon Securities LLC boosted its position in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock worth $272,000 after acquiring an additional 376 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ETSY shares. Truist Financial dropped their target price on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and dropped their price objective for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Loop Capital decreased their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Finally, Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, fifteen have given 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.com, Etsy currently has an average rating of “Hold” and a consensus price target of $58.38.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $28,593.60. This trade represents a 70.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 over the last three months. 2.60% of the stock is owned by corporate insiders.

Etsy Stock Down 8.2 %

Shares of ETSY stock opened at $44.42 on Friday. The stock has a 50 day moving average of $50.45 and a 200-day moving average of $52.43. The firm has a market cap of $4.76 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the firm earned $0.62 EPS. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.