Arrowstreet Capital Limited Partnership Has $197.95 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,742,714 shares of the specialty retailer’s stock after selling 133,176 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Etsy were worth $197,952,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC acquired a new position in Etsy during the 4th quarter worth about $6,117,000. Norges Bank acquired a new position in shares of Etsy in the fourth quarter worth approximately $74,235,000. WINTON GROUP Ltd bought a new stake in Etsy in the fourth quarter valued at approximately $6,451,000. Parametrica Management Ltd acquired a new stake in Etsy during the 4th quarter valued at approximately $230,000. Finally, Florida Financial Advisors LLC bought a new position in Etsy during the 4th quarter worth approximately $347,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

ETSY stock opened at $46.69 on Monday. The company has a market capitalization of $5.00 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The business has a 50-day simple moving average of $50.93 and a two-hundred day simple moving average of $52.64.

Etsy (NASDAQ:ETSY) last announced its earnings results 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. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETSY. Wells Fargo & Company upped their price objective on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and increased their price target for the stock from $45.00 to $55.00 in a report on Monday, January 13th. JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday, March 19th. They issued a “neutral” rating and a $50.00 price objective for the company. Canaccord Genuity Group cut their target price on Etsy from $105.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Loop Capital lowered their target price on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $58.42.

Insider Activity

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 Etsy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock worth $1,286,445 over the last quarter. Insiders own 2.60% of the company’s stock.

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.