Lecap Asset Management Ltd. Sells 34,678 Shares of Etsy, Inc. (NASDAQ:ETSY)

Lecap Asset Management Ltd. reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 66.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,746 shares of the specialty retailer's stock after selling 34,678 shares during the period. Lecap Asset Management Ltd.'s holdings in Etsy were worth $837,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. True Wealth Design LLC increased its holdings in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. Hurley Capital LLC bought a new stake in Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Etsy during the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Etsy in the 4th quarter worth approximately $37,000. 99.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETSY. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 target price on the stock. in a research note on Wednesday, June 11th. UBS Group cut their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Loop Capital cut their target price on Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Citigroup cut their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, Stifel Nicolaus cut their target price on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Six 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 company. According to MarketBeat, Etsy presently has an average rating of "Hold" and a consensus price target of $49.87.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 151,666 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer now owns 107,809 shares of the company's stock, valued at approximately $6,218,423.12. This represents a 58.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. The trade was a 70.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is currently owned by company insiders.

Etsy Price Performance

Shares of ETSY stock opened at $53.05 on Thursday. The company's fifty day simple moving average is $50.83 and its two-hundred day simple moving average is $51.17. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.81. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.94 and a beta of 1.80.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results 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). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same period in the previous year, the firm earned $0.48 EPS. The company's revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy 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.

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