Dynamic Technology Lab Private Ltd Buys New Shares in Etsy, Inc. (NASDAQ:ETSY)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,310 shares of the specialty retailer’s stock, valued at approximately $1,656,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock valued at $651,056,000 after purchasing an additional 56,772 shares during the period. Van ECK Associates Corp boosted its stake in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock worth $186,583,000 after buying an additional 522,111 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after buying an additional 188,386 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after acquiring an additional 850,520 shares during the period. Finally, Norges Bank acquired a new stake in shares of Etsy during the 4th quarter valued at about $74,235,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value 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. The trade was a 81.24 % 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 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of Etsy stock opened at $44.42 on Friday. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. The firm has a fifty day moving average of $50.45 and a two-hundred day moving average of $52.44.

Etsy (NASDAQ:ETSY) last released 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 negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Loop Capital cut their price target on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Morgan Stanley cut their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Finally, Truist Financial dropped their target price 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. Four equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus price target of $58.38.

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.