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) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 78,531 shares of the specialty retailer’s stock, valued at approximately $4,154,000.

Other large investors have also recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Etsy during the fourth quarter valued at $38,000. Versant Capital Management Inc lifted its position in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the period. Blue Trust Inc. lifted its position in Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 426 shares during the period. Finally, Denver PWM LLC lifted its position in Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 289 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 0.1 %

ETSY stock opened at $44.72 on Thursday. The company 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. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The firm has a 50-day moving average of $51.88 and a two-hundred day moving average of $53.02.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ETSY. JMP Securities restated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Moffett Nathanson boosted their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group decreased their target price 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. Cantor Fitzgerald decreased their price objective on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued 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 assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average price target of $58.42.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the firm’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 transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 in the last 90 days. Insiders own 2.60% of the company’s stock.

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.