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

Pilgrim Partners Asia Pte Ltd bought a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,360 shares of the specialty retailer’s stock, valued at approximately $125,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Etsy by 8.7% in the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock valued at $144,000 after buying an additional 218 shares during the period. Heron Bay Capital Management raised its holdings in Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after acquiring an additional 258 shares in the last quarter. Denver PWM LLC raised its holdings in shares of Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after purchasing an additional 289 shares in the last quarter. Finally, Gagnon Securities LLC increased its holdings in Etsy by 7.9% in the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of ETSY stock opened at $44.42 on Friday. The stock has a fifty day moving average price of $50.45 and a 200 day moving average price of $52.44. The stock has a market cap of $4.76 billion, a PE ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 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 firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. JPMorgan Chase & Co. initiated coverage on shares of Etsy in a research note on Wednesday, March 19th. They set a “neutral” rating and a $50.00 price target on the stock. Wells Fargo & Company dropped their price objective on Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Wednesday. Citigroup decreased their target price on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, UBS Group cut their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has a consensus rating of “Hold” and a consensus price target of $58.38.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $28,593.60. This trade represents a 70.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were 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 owns 22,198 shares in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 over the last ninety days. 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.