Etsy, Inc. (NASDAQ:ETSY) Stock Holdings Increased by Versant Capital Management Inc

Versant Capital Management Inc lifted its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 1,066.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,622 shares of the specialty retailer's stock after acquiring an additional 8,797 shares during the quarter. Versant Capital Management Inc's holdings in Etsy were worth $454,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kera Capital Partners Inc. purchased a new stake in shares of Etsy during the first quarter worth about $231,000. 111 Capital purchased a new stake in shares of Etsy during the fourth quarter worth about $310,000. Wealth Enhancement Advisory Services LLC grew its holdings in Etsy by 125.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the specialty retailer's stock worth $923,000 after acquiring an additional 9,718 shares in the last quarter. Brooklyn FI LLC acquired a new position in Etsy during the 4th quarter worth $5,229,000. Finally, Neo Ivy Capital Management acquired a new position in Etsy during the 4th quarter worth $3,334,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Up 6.1%

NASDAQ:ETSY traded up $3.39 during mid-day trading on Monday, hitting $58.74. The stock had a trading volume of 11,580,456 shares, compared to its average volume of 4,008,554. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 2.57 and a beta of 1.78. The company has a 50 day simple moving average of $46.15 and a 200-day simple moving average of $50.64. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same quarter last year, the firm posted $0.48 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other Etsy news, CTO Richard Edward Colburn III sold 2,350 shares of the business's 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 now directly owns 2,896 shares in the company, valued at approximately $136,140.96. The trade was a 44.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 52,252 shares of company stock worth $2,397,942. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Etsy from $40.00 to $38.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. B. Riley decreased their price objective 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. Evercore ISI decreased their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Etsy in a report on Wednesday, April 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $50.14.

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.