Simon Quick Advisors LLC Takes Position in Etsy, Inc. (NASDAQ:ETSY)

Simon Quick Advisors LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,475 shares of the specialty retailer's stock, valued at approximately $211,000.

Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. True Wealth Design LLC increased its position in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC bought a new stake in shares of Etsy in the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Etsy in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Etsy in the 4th quarter worth approximately $37,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several research reports. 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. Wells Fargo & Company cut their price target on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. B. Riley reduced their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Piper Sandler dropped their price objective on Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group cut their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $50.17.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 151,666 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.68, for a total transaction of $8,748,094.88. Following the sale, the chief executive officer now directly owns 107,809 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $58.77, for a total value of $88,155.00. Following the completion of the transaction, the insider now directly owns 31,822 shares of the company's stock, valued at $1,870,178.94. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,418 shares of company stock worth $11,234,192 over the last three months. Company insiders own 2.80% of the company's stock.

Etsy Stock Down 3.8%

Shares of NASDAQ:ETSY traded down $2.10 during trading on Monday, hitting $53.89. The stock had a trading volume of 9,040,140 shares, compared to its average volume of 4,188,207. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.81. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.80. The stock has a 50-day simple moving average of $49.04 and a two-hundred day simple moving average of $51.22.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share 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.