Intech Investment Management LLC Invests $751,000 in Etsy, Inc. (NASDAQ:ETSY)

Intech Investment Management LLC purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 14,206 shares of the specialty retailer’s stock, valued at approximately $751,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kennondale Capital Management LLC acquired a new stake in shares of Etsy during the fourth quarter valued at about $926,000. Royce & Associates LP acquired a new stake in Etsy during the 4th quarter valued at approximately $4,154,000. Natixis Advisors LLC purchased a new stake in Etsy during the 4th quarter worth approximately $606,000. Vestcor Inc acquired a new position in shares of Etsy in the 4th quarter valued at approximately $223,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Etsy during the 4th quarter valued at approximately $15,630,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business’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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,666 shares of company stock valued at $1,286,445. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ETSY. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and cut their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. JPMorgan Chase & Co. assumed coverage on Etsy in a research note on Wednesday, March 19th. They issued a “neutral” rating and a $50.00 price target for the company. Citigroup reduced their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Canaccord Genuity Group lowered their price target on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.42.

Etsy Price Performance

ETSY opened at $45.11 on Monday. The stock’s 50 day moving average price is $51.57 and its 200 day moving average price is $52.86. The stock has a market cap of $4.83 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72.

Etsy (NASDAQ:ETSY) last released its quarterly 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 negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

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.