Sivia Capital Partners LLC Buys Shares of 4,497 Etsy, Inc. (NASDAQ:ETSY)

Sivia Capital Partners LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,497 shares of the specialty retailer's stock, valued at approximately $212,000.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Etsy in the 4th quarter worth $74,235,000. Victory Capital Management Inc. grew its stake in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares during the last quarter. Van ECK Associates Corp increased its holdings in Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after purchasing an additional 522,111 shares during the period. AQR Capital Management LLC raised its position in Etsy by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock valued at $47,042,000 after purchasing an additional 419,038 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Etsy in the 4th quarter worth approximately $19,412,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.24, for a total value of $72,360.00. Following the sale, the insider now owns 34,822 shares of the company's stock, valued at $1,679,813.28. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $28,593.60. This represents a 70.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is owned by insiders.

Etsy Price Performance

Shares of Etsy stock traded down $1.63 during trading on Wednesday, hitting $60.20. 6,210,406 shares of the company's stock traded hands, compared to its average volume of 4,104,625. The stock has a market capitalization of $6.28 billion, a P/E ratio of 25.40, a PEG ratio of 2.57 and a beta of 1.80. The business has a 50-day simple moving average of $48.11 and a 200-day simple moving average of $51.17. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.90.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $651.18 million for 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%. The firm's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. On average, equities analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETSY shares. Canaccord Genuity Group decreased their target price on Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. Piper Sandler dropped their target price on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Arete cut shares of Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price target on the stock. in a research report on Wednesday. Evercore ISI lowered their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $60.00 target price on shares of Etsy in a report on Wednesday, April 30th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.17.

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.