Versant Capital Management Inc Purchases 8,797 Shares of Etsy, Inc. (NASDAQ:ETSY)

Versant Capital Management Inc raised its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 1,066.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,622 shares of the specialty retailer's stock after buying an additional 8,797 shares during the period. Versant Capital Management Inc's holdings in Etsy were worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in Etsy by 74.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 447,128 shares of the specialty retailer's stock worth $23,649,000 after acquiring an additional 190,294 shares during the period. Gagnon Securities LLC lifted its position in shares of Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock worth $272,000 after purchasing an additional 376 shares during the last quarter. DAVENPORT & Co LLC boosted its position in shares of Etsy by 12.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock valued at $92,452,000 after acquiring an additional 188,386 shares during the period. Lecap Asset Management Ltd. grew its position in Etsy by 193.5% in the 4th quarter. Lecap Asset Management Ltd. now owns 52,424 shares of the specialty retailer's stock worth $2,773,000 after purchasing an additional 34,565 shares during the last quarter. Finally, American Capital Advisory LLC increased its stake in Etsy by 1,204,900.0% during the fourth quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer's stock valued at $637,000 after acquiring an additional 12,049 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ETSY shares. Morgan Stanley cut 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. Loop Capital reduced their target price on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Citigroup dropped their price target on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Evercore ISI reduced their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Bank of America cut their target price on shares of Etsy from $55.00 to $50.00 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 assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $50.50.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at approximately $1,534,582.14. The trade was a 40.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was 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 three months, insiders have sold 52,252 shares of company stock valued at $2,397,942. 2.60% of the stock is owned by insiders.

Etsy Price Performance

Shares of ETSY traded up $0.77 during mid-day trading on Wednesday, hitting $60.97. 2,545,892 shares of the company's stock were exchanged, compared to its average volume of 4,006,512. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The company has a 50-day simple moving average of $46.66 and a 200 day simple moving average of $50.77. The company has a market cap of $6.36 billion, a PE ratio of 25.73, a P/E/G ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, analysts anticipate 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.