Lmcg Investments LLC Acquires 15,254 Shares of Etsy, Inc. (NASDAQ:ETSY)

Lmcg Investments LLC increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 56.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,386 shares of the specialty retailer's stock after acquiring an additional 15,254 shares during the period. Lmcg Investments LLC's holdings in Etsy were worth $2,000,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. DJE Kapital AG bought a new position in shares of Etsy in the fourth quarter worth approximately $983,000. Versant Capital Management Inc lifted its stake in shares of Etsy by 1,066.3% in the first quarter. Versant Capital Management Inc now owns 9,622 shares of the specialty retailer's stock worth $454,000 after buying an additional 8,797 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Etsy by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after buying an additional 122,126 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Etsy in the fourth quarter worth approximately $492,000. Finally, Brooklyn FI LLC bought a new position in shares of Etsy in the fourth quarter worth approximately $5,229,000. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In related 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 transaction of $8,748,094.88. Following the completion of the transaction, the chief executive officer now owns 107,809 shares in the company, valued at approximately $6,218,423.12. This represents a 58.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the transaction, the insider now owns 33,322 shares of the company's stock, valued at $1,435,178.54. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,418 shares of company stock worth $11,234,192. 2.60% of the stock is owned by insiders.

Etsy Price Performance

ETSY opened at $62.72 on Friday. The firm has a market cap of $6.54 billion, a P/E ratio of 26.46, a PEG ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.93. The company has a 50 day simple moving average of $47.26 and a two-hundred day simple moving average of $50.93.

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 firm had revenue of $651.18 million during 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 business's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 earnings per share. Equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ETSY shares. Piper Sandler dropped their target price on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday. Bank of America decreased their price objective on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. 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. Finally, Cantor Fitzgerald boosted their price objective on shares of Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $50.50.

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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