Algert Global LLC Purchases 75,567 Shares of Etsy, Inc. (NASDAQ:ETSY)

Algert Global LLC lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 76.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,804 shares of the specialty retailer's stock after acquiring an additional 75,567 shares during the quarter. Algert Global LLC owned 0.15% of Etsy worth $9,192,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after buying an additional 411,165 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Etsy by 1.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer's stock worth $2,594,000 after buying an additional 816 shares during the period. Cooper Financial Group lifted its position in Etsy by 4.7% in the fourth quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer's stock valued at $764,000 after purchasing an additional 642 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Etsy during the 4th quarter valued at $280,000. 99.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total value of $64,605.00. Following the transaction, the insider now directly owns 33,322 shares of the company's stock, valued at approximately $1,435,178.54. This trade represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $43.09, for a total value of $933,587.94. Following the transaction, the chief executive officer now owns 53,484 shares in the company, valued at approximately $2,304,625.56. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,618 shares of company stock valued at $3,469,803 over the last ninety days. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of research analyst reports. Barclays lowered their target price on Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley decreased their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Wednesday, April 30th. Finally, B. Riley lowered their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Etsy has an average rating of "Hold" and an average target price of $50.14.

Etsy Price Performance

Shares of ETSY traded up $0.82 during mid-day trading on Wednesday, hitting $45.93. The company's stock had a trading volume of 3,886,237 shares, compared to its average volume of 3,849,795. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The firm has a 50-day moving average price of $45.52 and a 200 day moving average price of $50.98. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.