Balyasny Asset Management L.P. Takes $19.41 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Balyasny Asset Management L.P. acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 367,027 shares of the specialty retailer's stock, valued at approximately $19,412,000. Balyasny Asset Management L.P. owned approximately 0.33% of Etsy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy during the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Etsy in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new stake in Etsy during the fourth quarter worth approximately $37,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Etsy in the 4th quarter valued at $38,000. Institutional investors own 99.53% of the company's stock.

Analysts Set New Price Targets

ETSY has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price objective on shares of Etsy in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price target 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. Stifel Nicolaus cut their price target on shares of Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the company a "hold" rating in a research note on Monday, April 14th. Finally, Morgan Stanley dropped their price objective on shares of Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Etsy presently has a consensus rating of "Hold" and an average target price of $50.14.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This represents a 81.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. This trade represents a 6.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,618 shares of company stock worth $3,469,803 over the last quarter. Insiders own 2.60% of the company's stock.

Etsy Stock Down 0.9%

ETSY traded down $0.43 during midday trading on Tuesday, hitting $47.16. 1,276,779 shares of the company traded hands, compared to its average volume of 3,858,502. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The company's 50-day moving average is $45.40 and its 200 day moving average is $50.95. The firm has a market capitalization of $4.92 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

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

Etsy 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.