Virtu Financial LLC Takes $696,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Virtu Financial LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,152 shares of the specialty retailer’s stock, valued at approximately $696,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Etsy in the 3rd quarter worth $55,530,000. Holocene Advisors LP bought a new position in shares of Etsy in the third quarter valued at $49,061,000. Assenagon Asset Management S.A. grew its holdings in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after buying an additional 850,520 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after acquiring an additional 711,572 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after acquiring an additional 522,111 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of a number of analyst reports. Truist Financial cut their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Morgan Stanley dropped their price target on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Loop Capital reduced their price target on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reduced their target price on Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.42.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business’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 completion of the transaction, the insider now directly owns 22,198 shares in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $45.86 on Tuesday. The stock’s 50-day simple moving average is $51.41 and its two-hundred day simple moving average is $52.79. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $861.37 million. During the same period in the previous year, the business posted $0.62 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal 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.