Quantinno Capital Management LP Purchases 59,714 Shares of Etsy, Inc. (NASDAQ:ETSY)

Quantinno Capital Management LP grew its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 118.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 110,139 shares of the specialty retailer's stock after acquiring an additional 59,714 shares during the quarter. Quantinno Capital Management LP owned about 0.10% of Etsy worth $5,825,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Hurley Capital LLC acquired a new stake in Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new position in Etsy in the fourth quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in Etsy during the fourth quarter worth about $37,000. Finally, Kestra Investment Management LLC bought a new position in shares of Etsy in the fourth quarter worth about $38,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,418 shares of company stock worth $3,601,377 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. B. Riley decreased their price target on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays decreased their target price on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. UBS Group dropped their price target on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Truist Financial cut their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup lowered their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $50.14.

Etsy Price Performance

Shares of ETSY traded down $0.67 during trading hours on Wednesday, hitting $46.49. 3,182,527 shares of the stock were exchanged, compared to its average volume of 3,895,307. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The business has a 50-day moving average of $45.46 and a 200-day moving average of $50.83. The firm has a market capitalization of $4.85 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last issued 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). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business's revenue was up .8% on a year-over-year basis. As a group, analysts forecast 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.