Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP raised its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 quarter.

Other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC increased its stake in Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after purchasing an additional 218 shares during the period. Heron Bay Capital Management boosted its stake in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock valued at $1,072,000 after purchasing an additional 258 shares during the period. Denver PWM LLC grew its holdings 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 purchasing an additional 289 shares in the last quarter. Finally, Gagnon Securities LLC increased its stake in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock worth $272,000 after buying an additional 376 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the topic of a number of recent research reports. Stifel Nicolaus cut their price objective on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group raised Etsy from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. Piper Sandler decreased their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley lowered their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. 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. Based on data from MarketBeat, Etsy currently has an average rating of "Hold" and an average price target of $50.14.

Etsy Trading Up 1.8 %

Shares of Etsy stock traded up $0.82 during trading hours on Wednesday, hitting $45.93. 3,886,237 shares of the company were exchanged, compared to its average volume of 3,849,795. The stock 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, Inc. has a 1 year low of $40.05 and a 1 year high of $66.93. The business has a 50-day moving average of $45.52 and a 200-day moving average of $50.98.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same period in the prior year, the company earned $0.48 EPS. The company's revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,618 shares of company stock worth $3,469,803 over the last 90 days. Company insiders own 2.60% of the company's stock.

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.