PYA Waltman Capital LLC Acquires 5,294 Shares of Etsy, Inc. (NASDAQ:ETSY)

PYA Waltman Capital LLC raised its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 21.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,662 shares of the specialty retailer's stock after buying an additional 5,294 shares during the quarter. PYA Waltman Capital LLC's holdings in Etsy were worth $1,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Etsy during the 4th quarter valued at $74,235,000. Assenagon Asset Management S.A. lifted its position in shares of 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 buying an additional 535,864 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Etsy by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after buying an additional 419,038 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Etsy during the 4th quarter worth $19,412,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Etsy during the 4th quarter worth $15,630,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company set a $41.00 price objective on Etsy and gave the stock an "underweight" rating in a research report on Monday, June 30th. Citigroup dropped their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Bank of America dropped their target price on Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Barclays dropped their target price on Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI decreased their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Etsy has an average rating of "Hold" and a consensus target price of $49.91.

Insider Activity

In other news, CEO Josh Silverman sold 151,666 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer owned 107,809 shares in the company, valued at $6,218,423.12. This trade represents a 58.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,298 shares of company stock worth $11,156,039 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Etsy Stock Down 3.5%

NASDAQ:ETSY traded down $2.02 on Tuesday, hitting $55.69. The stock had a trading volume of 4,685,193 shares, compared to its average volume of 4,709,518. The business's fifty day moving average is $52.91 and its 200 day moving average is $50.73. The company has a market cap of $5.81 billion, a PE ratio of 39.78, a P/E/G ratio of 3.18 and a beta of 1.74. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.81.

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