Bessemer Group Inc. Purchases 1,182 Shares of Etsy, Inc. (NASDAQ:ETSY)

Bessemer Group Inc. grew its position in Etsy, Inc. (NASDAQ:ETSY) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,508 shares of the specialty retailer’s stock after buying an additional 1,182 shares during the quarter. Bessemer Group Inc.’s holdings in Etsy were worth $1,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ETSY. Lindbrook Capital LLC raised 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 purchasing an additional 181 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Etsy by 8.7% in the fourth 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 in the last quarter. Heron Bay Capital Management raised its holdings in shares of 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 buying an additional 258 shares during the last quarter. Denver PWM LLC lifted 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 in the last quarter. Finally, Gagnon Securities LLC grew its holdings in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock worth $272,000 after acquiring an additional 376 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETSY has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Etsy from $54.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Etsy 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 company from $45.00 to $55.00 in a research report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Finally, Truist Financial decreased their price target on Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a 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 given a strong buy rating to the company. Based on data from MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $56.71.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares in the company, valued at $1,534,582.14. This trade represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,952 shares of company stock valued at $2,554,620. Company insiders own 2.60% of the company’s stock.

Etsy Price Performance

NASDAQ ETSY opened at $43.60 on Monday. The stock’s 50-day moving average is $48.78 and its 200-day moving average is $51.86. Etsy, Inc. has a one year low of $40.05 and a one year high of $71.72. The firm has a market cap of $4.67 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.57 and a beta of 2.15.

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

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.