iSAM Funds UK Ltd Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

iSAM Funds UK Ltd bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,447 shares of the specialty retailer's stock, valued at approximately $288,000.

Several other hedge funds have also recently bought and sold shares of the business. Twinbeech Capital LP acquired a new position in Etsy during the fourth quarter worth $8,330,000. Tairen Capital Ltd grew its position in shares of Etsy by 75.0% in the fourth quarter. Tairen Capital Ltd now owns 35,000 shares of the specialty retailer's stock valued at $1,851,000 after purchasing an additional 15,000 shares during the last quarter. Tidal Investments LLC grew its position in shares of Etsy by 4.6% in the fourth quarter. Tidal Investments LLC now owns 29,428 shares of the specialty retailer's stock valued at $1,556,000 after purchasing an additional 1,305 shares during the last quarter. Teza Capital Management LLC increased its stake in shares of Etsy by 6.6% in the fourth quarter. Teza Capital Management LLC now owns 30,676 shares of the specialty retailer's stock worth $1,622,000 after purchasing an additional 1,905 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at $28,593.60. This trade represents a 70.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,418 shares of company stock worth $3,601,377. Insiders own 2.60% of the company's stock.

Etsy Stock Up 0.3%

Shares of ETSY opened at $47.16 on Wednesday. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.93. The company has a 50-day moving average price of $45.46 and a two-hundred day moving average price of $50.83.

Etsy (NASDAQ:ETSY - Get Free Report) last announced 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). The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS. Equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ETSY. Bank of America dropped their price objective on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price objective on shares of Etsy in a research note on Wednesday, April 30th. UBS Group dropped their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley dropped their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Etsy presently has a consensus rating of "Hold" and a consensus price target of $50.14.

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.

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