Stevens Capital Management LP Purchases 2,962 Shares of Etsy, Inc. (NASDAQ:ETSY)

Stevens Capital Management LP boosted its position in Etsy, Inc. (NASDAQ:ETSY) by 60.8% in the fourth quarter, HoldingsChannel reports. The firm owned 7,836 shares of the specialty retailer’s stock after buying an additional 2,962 shares during the quarter. Stevens Capital Management LP’s holdings in Etsy were worth $414,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETSY. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Etsy in the 3rd quarter worth about $55,530,000. Holocene Advisors LP bought a new stake in Etsy in the 3rd quarter worth about $49,061,000. Assenagon Asset Management S.A. boosted its stake in Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after acquiring an additional 850,520 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock valued at $42,982,000 after acquiring an additional 711,572 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $45.11 on Monday. The company’s fifty day moving average price is $51.57 and its 200-day moving average price is $52.86. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The firm 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 business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the 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 transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock valued at $1,286,445 in the last quarter. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and boosted their target price for the company from $45.00 to $55.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. initiated coverage on shares of Etsy in a research note on Wednesday, March 19th. They issued a “neutral” rating and a $50.00 target price on the stock. Loop Capital dropped their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Finally, UBS Group dropped their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $58.42.

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.