98,140 Shares in Etsy, Inc. (NASDAQ:ETSY) Bought by Brooklyn FI LLC

by · The Cerbat Gem

Brooklyn FI LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY – Free Report) during the 4th quarter, Holdings Channel reports. The firm purchased 98,140 shares of the specialty retailer’s stock, valued at approximately $5,229,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC acquired a new stake in shares of Etsy in the third quarter valued at about $225,000. Victory Capital Management Inc. increased its position in shares of Etsy by 422.1% during the 3rd quarter. Victory Capital Management Inc. now owns 101,099 shares of the specialty retailer’s stock worth $5,614,000 after purchasing an additional 81,734 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Etsy by 17.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 17,259 shares of the specialty retailer’s stock worth $958,000 after purchasing an additional 2,502 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after buying an additional 85,396 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Etsy by 887.6% in the third quarter. Quest Partners LLC now owns 24,097 shares of the specialty retailer’s stock valued at $1,338,000 after buying an additional 21,657 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ETSY. JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Wells Fargo & Company lifted their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Moffett Nathanson raised their price objective on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley decreased their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a 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 for the company in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy currently has a consensus rating of “Hold” and a consensus target price of $58.78.

Read Our Latest Analysis on Etsy

Etsy Stock Down 3.5 %

NASDAQ:ETSY opened at $44.66 on Wednesday. The firm has a market capitalization of $4.78 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a twelve month low of $43.75 and a twelve month high of $71.72. The stock’s 50-day simple moving average is $52.06 and its 200 day simple moving average is $53.07.

Etsy (NASDAQ:ETSY – Get Free Report) last announced 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 company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. On average, analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. Corporate insiders own 2.60% of the company’s stock.

About Etsy

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSY – Free Report).