Bares Capital Management Inc. Has $100.05 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Bares Capital Management Inc. lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,891,645 shares of the specialty retailer's stock after selling 30,474 shares during the period. Etsy makes up 9.0% of Bares Capital Management Inc.'s investment portfolio, making the stock its 6th biggest holding. Bares Capital Management Inc. owned about 1.68% of Etsy worth $100,049,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 181 shares during the period. Hurley Capital LLC bought a new position in shares of Etsy during the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the 4th quarter valued at $34,000. Summit Securities Group LLC bought a new stake in shares of Etsy in the 4th quarter worth about $37,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Etsy during the 4th quarter worth about $38,000. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the sale, the insider now owns 592 shares of the company's stock, valued at $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction 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. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,618 shares of company stock valued at $3,469,803 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Up 1.8 %

Shares of ETSY traded up $0.82 on Wednesday, hitting $45.93. The company's stock had a trading volume of 3,886,237 shares, compared to its average volume of 3,849,795. The firm's fifty day moving average price is $45.52 and its 200-day moving average price is $50.98. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.57 and a beta of 1.78.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley decreased their price target on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. UBS Group cut their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays dropped their target price on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and lifted their price objective for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.14.

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.