Ossiam Purchases New Shares in Etsy, Inc. (NASDAQ:ETSY)

Ossiam acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,375 shares of the specialty retailer’s stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its position in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the period. Hurley Capital LLC acquired a new position in shares of Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Etsy during the fourth quarter worth approximately $34,000. Summit Securities Group LLC bought a new stake in shares of Etsy in the fourth quarter valued at approximately $37,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Etsy in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy 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 transaction, the insider now owns 592 shares of the company’s stock, valued at $28,593.60. This trade represents a 70.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock worth $2,554,620 over the last ninety days. 2.60% of the stock is owned by insiders.

Etsy Price Performance

ETSY opened at $44.15 on Monday. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $71.72. The company’s 50 day moving average price is $47.69 and its two-hundred day moving average price is $51.51. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.57 and a beta of 2.15.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Loop Capital dropped their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on shares of Etsy from $50.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group decreased their target price on shares of Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Truist Financial cut their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.42.

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.