Heron Bay Capital Management Has $1.07 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Heron Bay Capital Management grew its stake in Etsy, Inc. (NASDAQ:ETSY) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,260 shares of the specialty retailer’s stock after purchasing an additional 258 shares during the period. Heron Bay Capital Management’s holdings in Etsy were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Fox Run Management L.L.C. raised its holdings in Etsy by 49.2% in the 4th quarter. Fox Run Management L.L.C. now owns 9,146 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 3,016 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Etsy in the 4th quarter valued at approximately $1,269,000. Virtu Financial LLC bought a new position in Etsy in the 4th quarter valued at approximately $696,000. Contrarius Group Holdings Ltd bought a new position in Etsy in the 4th quarter valued at approximately $11,744,000. Finally, Teacher Retirement System of Texas raised its holdings in Etsy by 50.7% in the 4th quarter. Teacher Retirement System of Texas now owns 32,442 shares of the specialty retailer’s stock valued at $1,716,000 after buying an additional 10,920 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Up 0.4 %

NASDAQ ETSY opened at $45.11 on Friday. The company has a fifty day simple moving average of $51.57 and a 200 day simple moving average of $52.88. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The company has a market cap of $4.83 billion, a P/E ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted its quarterly 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. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. Sell-side analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ETSY shares. UBS Group dropped their price objective 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. Canaccord Genuity Group lowered their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Citigroup lowered their price target on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Morgan Stanley lowered their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $58.42.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on 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 of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock valued at $1,286,445 in the last three months. 2.60% of the stock is currently owned by insiders.

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.