Etsy, Inc. (NASDAQ:ETSY) Stock Position Raised by Bayesian Capital Management LP

Bayesian Capital Management LP raised its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,404 shares of the specialty retailer's stock after acquiring an additional 16,832 shares during the period. Bayesian Capital Management LP's holdings in Etsy were worth $2,190,000 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 lifted its position in 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 buying an additional 181 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of Etsy during the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Etsy during the fourth quarter worth $34,000. Summit Securities Group LLC purchased a new position in shares of Etsy in the fourth quarter valued at $37,000. Finally, Kestra Investment Management LLC acquired a new stake in Etsy during the 4th quarter valued at $38,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ETSY shares. Wells Fargo & Company decreased their price objective on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Truist Financial decreased their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the company a "hold" rating in a report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Etsy in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $50.14.

Etsy Trading Down 1.9 %

ETSY stock traded down $0.92 during trading on Friday, hitting $46.94. The company had a trading volume of 4,189,509 shares, compared to its average volume of 3,858,189. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 2.57 and a beta of 1.78. The business has a 50 day moving average of $45.44 and a 200 day moving average of $50.94. 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 issued 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). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million during the quarter, compared to analyst estimates of $642.22 million. During the same period in the prior year, the company posted $0.48 earnings per share. The company's revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total value of $64,605.00. Following the sale, the insider now directly owns 33,322 shares in the company, valued at $1,435,178.54. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 5,004 shares of the company's stock, valued at $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. In the last 90 days, insiders have sold 72,618 shares of company stock valued at $3,469,803. Corporate insiders own 2.60% of the company's stock.

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.