Engine Capital Management LP Has $1.31 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Engine Capital Management LP trimmed its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 89.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,676 shares of the specialty retailer's stock after selling 200,000 shares during the quarter. Engine Capital Management LP's holdings in Etsy were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Lindbrook Capital LLC increased its position in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares during the period. Larson Financial Group LLC increased its position in Etsy by 8.7% in the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after buying an additional 218 shares during the period. Heron Bay Capital Management increased 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 buying an additional 258 shares during the period. Denver PWM LLC lifted its stake in shares of Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after buying an additional 289 shares during the period. Finally, Gagnon Securities LLC lifted its stake in shares of 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 buying an additional 376 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 1.9%

ETSY stock traded down $0.92 during midday trading on Friday, reaching $46.94. The company's stock had a trading volume of 4,189,509 shares, compared to its average volume of 3,858,189. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The stock has a market cap of $4.89 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. The business's 50-day simple moving average is $45.44 and its 200-day simple moving average is $50.96.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETSY has been the subject of several research reports. Stifel Nicolaus reduced their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. UBS Group reduced their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their price target on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group lowered their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial lowered their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four 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 company. According to data from MarketBeat, Etsy currently has a consensus rating of "Hold" and a consensus target price of $50.14.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $43.07, for a total value of $64,605.00. Following the completion of the transaction, the insider now directly owns 33,322 shares of the company's stock, valued at approximately $1,435,178.54. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24% decrease in their ownership of the stock. 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 in the last ninety days. 2.60% of the stock is owned by insiders.

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.