Aquatic Capital Management LLC Takes $6.48 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Aquatic Capital Management LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 122,601 shares of the specialty retailer's stock, valued at approximately $6,484,000. Aquatic Capital Management LLC owned approximately 0.11% of Etsy at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC increased its holdings in Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after purchasing an additional 218 shares in the last quarter. Heron Bay Capital Management grew its position in Etsy by 1.3% in the 4th quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after purchasing an additional 258 shares in the last quarter. Denver PWM LLC increased its position in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after purchasing an additional 289 shares during the last quarter. Finally, Gagnon Securities LLC lifted its stake in Etsy by 7.9% in the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock valued at $272,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Activity at Etsy

In other news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the 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 in the company, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock valued at $2,554,620 in the last three months. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler dropped their price objective on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Evercore ISI dropped their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays dropped their target price on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price target on Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.67.

Etsy Stock Down 2.2 %

ETSY traded down $0.97 during trading hours on Thursday, reaching $42.51. 6,402,917 shares of the company's stock traded hands, compared to its average volume of 3,921,882. The firm has a market capitalization of $4.47 billion, a PE ratio of 17.94, a PEG ratio of 2.57 and a beta of 2.15. The firm has a 50-day moving average price of $46.27 and a 200 day moving average price of $51.20. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. During the same quarter last year, the company earned $0.48 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict 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.