CANADA LIFE ASSURANCE Co Has $6.42 Million Holdings in Etsy, Inc. (NASDAQ:ETSY)

CANADA LIFE ASSURANCE Co lifted its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,454 shares of the specialty retailer's stock after buying an additional 8,927 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.11% of Etsy worth $6,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ETSY. Canada Pension Plan Investment Board lifted its holdings in shares of Etsy by 72.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 381,500 shares of the specialty retailer's stock valued at $20,178,000 after acquiring an additional 159,700 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Etsy during the 4th quarter valued at about $34,000. Marshall Wace LLP boosted its position in Etsy by 6,522.4% in the fourth quarter. Marshall Wace LLP now owns 261,716 shares of the specialty retailer's stock valued at $13,842,000 after buying an additional 257,764 shares in the last quarter. Jump Financial LLC bought a new stake in Etsy during the fourth quarter worth about $5,171,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Etsy by 14.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 30,297 shares of the specialty retailer's stock worth $1,602,000 after buying an additional 3,912 shares in the last quarter. Institutional investors own 99.53% of the company's stock.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,952 shares of company stock worth $2,554,620. Corporate insiders own 2.60% of the company's stock.

Etsy Trading Up 0.0 %

Shares of ETSY stock traded up $0.02 on Monday, hitting $45.88. The stock had a trading volume of 4,453,017 shares, compared to its average volume of 3,865,001. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $71.72. The company has a fifty day moving average price of $46.53 and a two-hundred day moving average price of $51.29. The firm has a market cap of $4.83 billion, a P/E ratio of 19.36, a PEG ratio of 2.57 and a beta of 2.15.

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, topping the consensus estimate of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Loop Capital lowered their price objective on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group reduced their target price on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $55.38.

About Etsy

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.