Los Angeles Capital Management LLC Acquires New Shares in Etsy, Inc. (NASDAQ:ETSY)

Los Angeles Capital Management LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,310 shares of the specialty retailer’s stock, valued at approximately $492,000.

Several other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Etsy in the third quarter valued at approximately $1,233,000. New York State Teachers Retirement System lifted its stake in Etsy by 9.9% in the 3rd quarter. New York State Teachers Retirement System now owns 118,197 shares of the specialty retailer’s stock worth $6,563,000 after purchasing an additional 10,652 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Etsy by 134.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 48,226 shares of the specialty retailer’s stock valued at $2,678,000 after purchasing an additional 27,694 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of Etsy during the 3rd quarter valued at $1,134,000. Finally, United Advisor Group LLC bought a new position in shares of Etsy in the third quarter worth $220,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Down 4.2 %

Shares of Etsy stock opened at $49.05 on Tuesday. The company’s fifty day simple moving average is $53.77 and its two-hundred day simple moving average is $53.73. Etsy, Inc. has a 12-month low of $47.10 and a 12-month high of $73.48. The firm has a market cap of $5.25 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) 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 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 period last year, the firm earned $0.62 earnings per share. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly 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 SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated 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 owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETSY shares. Canaccord Genuity Group dropped their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. UBS Group dropped their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Loop Capital decreased their price objective on shares of Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and dropped their target price for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.78.

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.