Cwm LLC Grows Holdings in Etsy, Inc. (NASDAQ:ETSY)

CWM LLC grew its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 409.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,797 shares of the specialty retailer's stock after buying an additional 78,602 shares during the period. CWM LLC owned 0.09% of Etsy worth $4,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETSY. Norges Bank purchased a new position in shares of Etsy in the fourth quarter worth $74,235,000. Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 36.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock worth $95,599,000 after buying an additional 535,864 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Etsy by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after purchasing an additional 419,038 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Etsy during the fourth quarter worth $19,412,000. Finally, Long Focus Capital Management LLC purchased a new position in shares of Etsy during the fourth quarter worth $14,814,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Price Performance

ETSY traded up $1.67 on Friday, reaching $59.64. 3,893,663 shares of the company's stock were exchanged, compared to its average volume of 4,342,030. The stock has a market cap of $6.22 billion, a PE ratio of 42.60, a P/E/G ratio of 3.08 and a beta of 1.74. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.81. The stock's fifty day moving average price is $53.78 and its 200-day moving average price is $50.86.

Etsy (NASDAQ:ETSY - Get Free Report) last posted 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). The business 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 39.60% and a net margin of 6.69%. The business's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the transaction, the chief executive officer directly owned 107,809 shares of the company's stock, valued at $6,218,423.12. The trade was a 58.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the transaction, the insider directly owned 34,683 shares in the company, valued at $1,781,318.88. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,298 shares of company stock worth $11,156,039. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ETSY has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. B. Riley reduced their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Arete cut shares of Etsy from a "neutral" rating to a "sell" rating and set a $43.00 target price for the company. in a report on Wednesday, June 11th. Citigroup reduced their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, Arete Research raised shares of Etsy to a "strong sell" rating in a report on Wednesday, June 11th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $49.92.

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.