Pilgrim Partners Asia Pte Ltd Takes $125,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Pilgrim Partners Asia Pte Ltd acquired a new position in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,360 shares of the specialty retailer’s stock, valued at approximately $125,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Etsy during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new position in Etsy during the 4th quarter valued at approximately $38,000. Versant Capital Management Inc raised its holdings in shares of Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 426 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Truist Financial cut their price target 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. Canaccord Genuity Group decreased their price objective on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. UBS Group reduced their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.38.

Etsy Trading Down 8.2 %

NASDAQ:ETSY opened at $44.42 on Friday. Etsy, Inc. has a twelve month low of $43.43 and a twelve month high of $71.72. The company has a market cap of $4.76 billion, a P/E ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15. The company’s 50-day moving average price is $50.45 and its 200-day moving average price is $52.44.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, 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 quarter, insiders have sold 50,952 shares of company stock valued at $2,554,620. 2.60% of the stock is currently owned by 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.