Tairen Capital Ltd Increases Holdings in Etsy, Inc. (NASDAQ:ETSY)

Tairen Capital Ltd raised its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 35,000 shares of the specialty retailer's stock after acquiring an additional 15,000 shares during the quarter. Tairen Capital Ltd's holdings in Etsy were worth $1,851,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Lindbrook Capital LLC raised its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC acquired a new stake in Etsy during the fourth quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new position in shares of Etsy during the 4th quarter worth approximately $37,000. 99.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of research reports. B. Riley reduced their price target 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. Morgan Stanley decreased their target price on Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Canaccord Genuity Group dropped their price target on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.14.

Etsy Price Performance

Shares of NASDAQ ETSY traded up $1.47 during mid-day trading on Thursday, reaching $47.96. 4,988,649 shares of the company's stock were exchanged, compared to its average volume of 3,906,338. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The firm has a 50-day moving average price of $45.48 and a two-hundred day moving average price of $50.80.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the sale, the insider now directly owns 592 shares in the company, valued at $28,593.60. The trade was a 70.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the transaction, the chief technology officer now owns 2,896 shares of the company's stock, valued at $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,418 shares of company stock valued at $3,601,377. 2.60% of the stock is owned by company insiders.

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.