Segantii Capital Management Ltd Purchases Shares of 1,900 Etsy, Inc. (NASDAQ:ETSY)

Segantii Capital Management Ltd bought a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,900 shares of the specialty retailer’s stock, valued at approximately $154,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in Etsy by 0.5% in the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after buying an additional 157 shares during the last quarter. Truist Financial Corp increased its stake in shares of Etsy by 2.7% during the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after purchasing an additional 168 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Etsy by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,455 shares of the specialty retailer’s stock worth $3,581,000 after purchasing an additional 210 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Etsy by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,653 shares of the specialty retailer’s stock valued at $944,000 after purchasing an additional 216 shares during the period. Finally, Accretive Wealth Partners LLC increased its position in Etsy by 3.8% during the 4th quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after buying an additional 226 shares during the period. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

NASDAQ ETSY traded up $0.88 on Thursday, hitting $63.45. 2,598,072 shares of the stock were exchanged, compared to its average volume of 3,865,271. Etsy, Inc. has a 52-week low of $56.60 and a 52-week high of $102.81. The company’s 50-day moving average price is $67.22 and its two-hundred day moving average price is $71.46. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 28.57, a P/E/G ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ETSY shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. B. Riley cut their price target on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Canaccord Genuity Group cut their price target on shares of Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Oppenheimer decreased their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.96.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at $183,868.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by insiders.

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.