Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Lessened by Invenomic Capital Management LP

Invenomic Capital Management LP cut its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,357 shares of the specialty retailer's stock after selling 20,957 shares during the period. Invenomic Capital Management LP owned 0.12% of Etsy worth $7,106,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after acquiring an additional 56,772 shares during the period. Renaissance Technologies LLC increased its position in shares of Etsy by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after acquiring an additional 235,550 shares during the period. Van ECK Associates Corp increased its position in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC boosted its holdings in Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after purchasing an additional 188,386 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after purchasing an additional 850,520 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on ETSY shares. Cantor Fitzgerald upped their price target on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Etsy in a research note on Wednesday, April 30th. UBS Group decreased their price target on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. B. Riley decreased their price target on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $50.14.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $0.16 during trading on Wednesday, hitting $46.61. The company's stock had a trading volume of 579,884 shares, compared to its average volume of 3,861,064. The business has a 50 day moving average price of $45.39 and a two-hundred day moving average price of $50.92. The company has a market capitalization of $4.86 billion, a PE ratio of 19.69, a P/E/G ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93.

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

Insiders Place Their Bets

In other news, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the completion of the transaction, the insider now directly owns 33,322 shares in the company, valued at approximately $1,435,178.54. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,618 shares of company stock worth $3,469,803. 2.60% of the stock is owned by company 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.