GAMMA Investing LLC Boosts Position in Etsy, Inc. (NASDAQ:ETSY)

GAMMA Investing LLC lifted its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 6,477.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,963 shares of the specialty retailer's stock after purchasing an additional 89,580 shares during the period. GAMMA Investing LLC owned 0.08% of Etsy worth $4,292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock valued at $651,056,000 after acquiring an additional 56,772 shares during the period. Renaissance Technologies LLC increased its stake in shares of Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after purchasing an additional 235,550 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after purchasing an additional 522,111 shares in the last quarter. Norges Bank purchased a new stake in shares of Etsy in the 4th quarter worth approximately $74,235,000. Finally, Charles Schwab Investment Management Inc. increased its position in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock valued at $59,820,000 after buying an additional 122,126 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Etsy

In related news, CAO Merilee Buckley sold 1,676 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total transaction of $72,360.00. Following the completion of the transaction, the insider now directly owns 34,822 shares of the company's stock, valued at $1,679,813.28. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,418 shares of company stock valued at $11,234,192 in the last three months. 2.80% of the stock is owned by insiders.

Etsy Stock Performance

Etsy stock traded down $3.30 during midday trading on Friday, hitting $55.99. 10,589,250 shares of the company's stock were exchanged, compared to its average volume of 4,168,723. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.81. The firm has a 50-day moving average of $49.04 and a two-hundred day moving average of $51.24. The company has a market cap of $5.84 billion, a PE ratio of 23.62, a P/E/G ratio of 2.57 and a beta of 1.80.

Etsy (NASDAQ:ETSY - Get Free Report) last released 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). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The firm's quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ETSY shares. Canaccord Genuity Group decreased their target price on shares of Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. Evercore ISI cut their target price on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group cut 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. Loop Capital cut their target price on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.17.

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.