Duality Advisers LP Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Duality Advisers LP bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,221 shares of the specialty retailer’s stock, valued at approximately $909,000.

Other institutional investors have also recently made changes to their positions in the company. Bares Capital Management Inc. increased its holdings in Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after acquiring an additional 1,480,655 shares in the last quarter. Van ECK Associates Corp increased its holdings in Etsy by 40.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after acquiring an additional 1,047,811 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in Etsy by 107.4% in the 3rd quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock worth $45,866,000 after acquiring an additional 367,759 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Etsy by 46.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock worth $72,046,000 after acquiring an additional 352,255 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Etsy by 217.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 400,300 shares of the specialty retailer’s stock worth $32,444,000 after acquiring an additional 274,284 shares in the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Down 2.2 %

Shares of ETSY stock opened at $66.87 on Thursday. Etsy, Inc. has a fifty-two week low of $58.20 and a fifty-two week high of $102.81. The stock has a market cap of $7.83 billion, a P/E ratio of 29.85, a P/E/G ratio of 4.76 and a beta of 2.01. The business has a fifty day simple moving average of $69.30 and a 200-day simple moving average of $71.53.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ETSY shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Truist Financial reduced their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. BTIG Research cut their target price on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $84.00 to $80.00 in a research note on Wednesday, January 10th. Finally, Evercore ISI dropped their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.46.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is owned by corporate insiders.

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.