Brooklyn FI LLC Purchases Shares of 98,140 Etsy, Inc. (NASDAQ:ETSY)

Brooklyn FI LLC acquired a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 98,140 shares of the specialty retailer's stock, valued at approximately $5,229,000. Brooklyn FI LLC owned 0.09% of Etsy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Etsy during the 4th quarter valued at $74,235,000. Victory Capital Management Inc. increased its holdings in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares during the period. Van ECK Associates Corp increased its position in shares of Etsy by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after purchasing an additional 522,111 shares during the last quarter. AQR Capital Management LLC increased its stake in Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock valued at $47,042,000 after acquiring an additional 419,038 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Etsy during the 4th quarter valued at $19,412,000. Institutional investors own 99.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ETSY shares. Citigroup cut their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Canaccord Genuity Group lowered their price objective on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. UBS Group decreased their price objective on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Bank of America reduced their price target on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. Four equities research 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. According to MarketBeat, Etsy presently has an average rating of "Hold" and an average price target of $50.14.

Insiders Place Their Bets

In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total transaction of $81,118.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at $1,534,582.14. This trade represents a 40.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,752 shares of company stock valued at $2,473,662. 2.60% of the stock is currently owned by corporate insiders.

Etsy Trading Up 1.9%

Shares of NASDAQ:ETSY traded up $0.97 during trading on Wednesday, reaching $51.45. The stock had a trading volume of 5,248,927 shares, compared to its average volume of 3,938,992. Etsy, Inc. has a one year low of $40.05 and a one year high of $66.93. The company has a market capitalization of $5.37 billion, a P/E ratio of 21.71, a PEG ratio of 2.57 and a beta of 1.78. The firm's 50-day simple moving average is $45.87 and its 200 day simple moving average is $50.66.

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

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.