Diversified Trust Co Acquires 6,564 Shares of Etsy, Inc. (NASDAQ:ETSY)

Diversified Trust Co boosted its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 63.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,829 shares of the specialty retailer's stock after acquiring an additional 6,564 shares during the period. Diversified Trust Co's holdings in Etsy were worth $794,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Etsy during the 4th quarter worth approximately $74,235,000. Victory Capital Management Inc. lifted its stake in shares of Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock valued at $42,982,000 after purchasing an additional 711,572 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after acquiring an additional 535,864 shares during the period. AQR Capital Management LLC grew its holdings in 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 buying an additional 419,038 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Etsy during the fourth quarter worth about $19,412,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays dropped their price objective on Etsy from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Morgan Stanley reduced their price objective on shares of Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company set a $41.00 price target on shares of Etsy and gave the company an "underweight" rating in a research report on Monday. Finally, The Goldman Sachs Group decreased their price target 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. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $49.91.

Insider Buying and Selling

In other news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 151,666 shares of the firm'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 owned 107,809 shares of the company's stock, valued at $6,218,423.12. This trade represents a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,132 shares of company stock valued at $9,966,017 over the last quarter. 2.80% of the stock is owned by company insiders.

Etsy Trading Up 2.7%

Shares of ETSY stock traded up $1.44 during mid-day trading on Thursday, reaching $54.40. The stock had a trading volume of 4,307,775 shares, compared to its average volume of 4,295,925. The firm has a market capitalization of $5.67 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.82 and a beta of 1.74. The stock's 50-day moving average price is $51.46 and its two-hundred day moving average price is $50.90. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.81.

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 analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities research analysts forecast that Etsy, Inc. will post 2.57 earnings per share 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.