Praxis Investment Management Inc. Takes $232,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Praxis Investment Management Inc. acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,920 shares of the specialty retailer's stock, valued at approximately $232,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 56,772 shares during the period. Renaissance Technologies LLC boosted its position in Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after purchasing an additional 235,550 shares during the period. Assenagon Asset Management S.A. boosted its position in Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock worth $95,599,000 after purchasing an additional 535,864 shares during the period. Norges Bank purchased a new stake in Etsy during the 4th quarter worth $74,235,000. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $59,820,000 after purchasing an additional 122,126 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Down 1.0%

ETSY traded down $0.55 on Tuesday, hitting $53.37. 4,591,777 shares of the company's stock were exchanged, compared to its average volume of 4,232,586. The firm has a market cap of $5.57 billion, a PE ratio of 38.12, a P/E/G ratio of 2.97 and a beta of 1.80. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.81. The stock has a fifty day moving average of $50.62 and a two-hundred day moving average of $51.15.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. Etsy's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. On average, analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group cut their price objective on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Finally, Bank of America cut their price objective on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $49.87.

Insider Buying and Selling

In other Etsy news, CEO Josh Silverman sold 151,666 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 107,809 shares in the company, valued at approximately $6,218,423.12. This trade represents a 58.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total transaction of $81,118.40. 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 over the last quarter. 2.80% of the stock is owned by company insiders.

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.