Generali Investments Towarzystwo Funduszy Inwestycyjnych Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)

Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,200 shares of the specialty retailer’s stock, valued at approximately $116,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in shares of Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after acquiring an additional 3,861,668 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Etsy by 17.4% during the 4th 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. DAVENPORT & Co LLC boosted its holdings in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Etsy by 132.9% during the 4th 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. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Etsy in the 3rd quarter worth approximately $55,530,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETSY shares. Loop Capital lowered their price objective 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. Cantor Fitzgerald dropped their price target 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. Wells Fargo & Company upped their target price on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Citigroup decreased their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Moffett Nathanson upped their price target on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.78.

Etsy Price Performance

Shares of Etsy stock opened at $51.19 on Friday. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $73.48. The firm’s 50-day moving average is $53.89 and its two-hundred day moving average is $53.73. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued 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. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the business earned $0.62 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.