DekaBank Deutsche Girozentrale Grows Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

DekaBank Deutsche Girozentrale grew its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 85.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,455 shares of the specialty retailer's stock after buying an additional 14,014 shares during the period. DekaBank Deutsche Girozentrale's holdings in Etsy were worth $1,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ETSY. Vanguard Group Inc. lifted its holdings in shares of Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after acquiring an additional 56,772 shares during the last quarter. Renaissance Technologies LLC raised its position in Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after purchasing an additional 235,550 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Etsy by 36.0% during 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 purchasing an additional 535,864 shares during the last quarter. Norges Bank purchased a new position in shares of Etsy in the 4th quarter worth about $74,235,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Etsy by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer's stock valued at $59,172,000 after purchasing an additional 33,736 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the completion of the transaction, the insider owned 34,683 shares of the company's stock, valued at approximately $1,781,318.88. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 151,666 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the completion of the sale, the chief executive officer directly owned 107,809 shares in the company, valued at $6,218,423.12. This represents a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,298 shares of company stock valued at $11,156,039. Corporate insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ETSY shares. UBS Group decreased their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company set a $41.00 price target on shares of Etsy and gave the stock an "underweight" rating in a research note on Monday, June 30th. Evercore ISI cut their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $49.91.

Etsy Trading Down 3.9%

NASDAQ ETSY traded down $2.25 during trading on Tuesday, hitting $55.46. The company had a trading volume of 569,690 shares, compared to its average volume of 4,321,433. The company's fifty day moving average is $52.91 and its 200-day moving average is $50.73. Etsy, Inc. has a one year low of $40.05 and a one year high of $66.81. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 39.61, a price-to-earnings-growth ratio of 3.18 and a beta of 1.74.

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). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Etsy's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current 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.