Generali Investments Towarzystwo Funduszy Inwestycyjnych Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)

Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,200 shares of the specialty retailer’s stock, valued at approximately $116,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Etsy by 106.5% in the 3rd quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Etsy during the 4th quarter worth approximately $38,000. Capital Performance Advisors LLP purchased a new position in Etsy during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc raised its position in Etsy by 153.1% during the 4th 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, Denver PWM LLC raised its position in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after buying an additional 289 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ETSY. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Etsy in a research report on Thursday, February 20th. Truist Financial reduced their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus reduced their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Canaccord Genuity Group reduced their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.78.

Insider Activity

In other 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 transaction of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’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 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 disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Down 1.0 %

Shares of ETSY opened at $51.19 on Friday. Etsy, Inc. has a 52-week low of $47.10 and a 52-week high of $73.48. The firm’s fifty day moving average is $53.89 and its two-hundred day moving average is $53.73. The stock has a market cap of $5.48 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.57 and a beta of 2.00.

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, topping 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 for the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the previous year, the company posted $0.62 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share 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.