Intech Investment Management LLC Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Intech Investment Management LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 14,206 shares of the specialty retailer’s stock, valued at approximately $751,000.

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

Etsy Trading Up 0.4 %

Shares of NASDAQ ETSY opened at $45.11 on Monday. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72. The business has a fifty day simple moving average of $51.57 and a 200 day simple moving average of $52.86.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $861.37 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and decreased their price objective for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. UBS Group lowered their price objective on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. JMP Securities restated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Citigroup lowered their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Morgan Stanley reduced their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Four equities 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $58.42.

Insiders Place Their Bets

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents 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 link. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock worth $1,286,445 over the last quarter. Company insiders own 2.60% of the company’s stock.

Etsy Company 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.