Lmcg Investments LLC Raises Stake in Etsy, Inc. (NASDAQ:ETSY)

Lmcg Investments LLC raised its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 56.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,386 shares of the specialty retailer's stock after buying an additional 15,254 shares during the quarter. Lmcg Investments LLC's holdings in Etsy were worth $2,000,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ETSY. Versant Capital Management Inc lifted its position in shares of Etsy by 1,066.3% during the 1st 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 during the period. DJE Kapital AG bought a new stake in shares of Etsy during the fourth quarter worth approximately $983,000. Charles Schwab Investment Management Inc. increased its stake in shares of Etsy by 12.1% in 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 acquiring an additional 122,126 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Etsy in the fourth quarter valued at about $492,000. Finally, Brooklyn FI LLC bought a new position in shares of Etsy during the fourth quarter worth about $5,229,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETSY has been the subject of several research reports. Bank of America dropped their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group decreased their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald raised their target price on Etsy from $42.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Evercore ISI decreased their target price on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Four research 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, the company currently has a consensus rating of "Hold" and an average target price of $50.50.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 151,666 shares of Etsy 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 sale, the chief executive officer now directly owns 107,809 shares of the company's stock, valued at approximately $6,218,423.12. The trade was a 58.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $58.77, for a total transaction of $88,155.00. Following the sale, the insider now owns 31,822 shares in the company, valued at $1,870,178.94. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,418 shares of company stock worth $11,234,192 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

Etsy Price Performance

Shares of NASDAQ:ETSY traded up $0.07 during midday trading on Monday, hitting $63.88. The company had a trading volume of 5,156,919 shares, compared to its average volume of 4,074,176. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.90. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 2.57 and a beta of 1.80. The business's 50-day simple moving average is $47.57 and its 200-day simple moving average is $51.01.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 EPS 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.