111 Capital Invests $310,000 in Etsy, Inc. (NASDAQ:ETSY)

111 Capital acquired a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,853 shares of the specialty retailer's stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETSY. Geneos Wealth Management Inc. grew its position in shares of Etsy by 1,298.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer's stock valued at $208,000 after acquiring an additional 3,650 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Etsy by 74.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 447,128 shares of the specialty retailer's stock valued at $23,649,000 after acquiring an additional 190,294 shares during the period. Gagnon Securities LLC grew its position in shares of Etsy by 7.9% in the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock valued at $272,000 after acquiring an additional 376 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock worth $92,452,000 after buying an additional 188,386 shares during the last quarter. Finally, Lecap Asset Management Ltd. lifted its stake in shares of Etsy by 193.5% during the 4th quarter. Lecap Asset Management Ltd. now owns 52,424 shares of the specialty retailer's stock worth $2,773,000 after buying an additional 34,565 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares in the company, valued at $1,534,582.14. This trade represents a 40.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,752 shares of company stock valued at $2,473,662. 2.60% of the stock is owned by insiders.

Etsy Stock Up 3.3%

Shares of NASDAQ:ETSY traded up $1.74 during midday trading on Friday, hitting $54.73. The stock had a trading volume of 7,236,819 shares, compared to its average volume of 3,978,261. The company's 50-day moving average price is $46.15 and its 200-day moving average price is $50.64. The company has a market capitalization of $5.71 billion, a P/E ratio of 23.09, a price-to-earnings-growth 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 announced its quarterly earnings results 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). The company had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ETSY shares. Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of Etsy in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Piper Sandler cut their target price 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. Stifel Nicolaus cut their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Loop Capital cut their target price on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.