Etsy, Inc. (NASDAQ:ETSY) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,026,263 shares of the specialty retailer's stock after buying an additional 535,864 shares during the quarter. Assenagon Asset Management S.A. owned about 1.89% of Etsy worth $95,599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ETSY. Versant Capital Management Inc increased its position in Etsy by 1,066.3% in the 1st quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock valued at $454,000 after buying an additional 8,797 shares in the last quarter. DJE Kapital AG bought a new stake in shares of Etsy during the fourth quarter valued at approximately $983,000. Charles Schwab Investment Management Inc. raised its position in shares of Etsy by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after purchasing an additional 122,126 shares during the period. JBGlobal.com LLC lifted its holdings in shares of Etsy by 68.2% in the 1st quarter. JBGlobal.com LLC now owns 12,837 shares of the specialty retailer's stock worth $606,000 after purchasing an additional 5,206 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Etsy in the 4th quarter valued at $492,000. Institutional investors own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group decreased their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. UBS Group dropped their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group lowered their price target on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Loop Capital cut their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Etsy has an average rating of "Hold" and a consensus price target of $50.17.

Etsy Stock Down 1.3%

Shares of ETSY stock traded down $0.80 during trading hours on Thursday, hitting $59.40. 7,714,519 shares of the company's stock traded hands, compared to its average volume of 4,120,085. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.57 and a beta of 1.80. The stock's fifty day simple moving average is $48.42 and its two-hundred day simple moving average is $51.23. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.90.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate 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 10.80% and a negative return on equity of 46.62%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. On average, equities analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.07, for a total value of $64,605.00. Following the completion of the transaction, the insider now owns 33,322 shares in the company, valued at approximately $1,435,178.54. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,418 shares of company stock valued at $11,234,192. Company insiders own 2.80% of the company's stock.

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.