Twinbeech Capital LP Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)

Twinbeech Capital LP acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 157,504 shares of the specialty retailer's stock, valued at approximately $8,330,000. Twinbeech Capital LP owned approximately 0.14% of Etsy at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. DJE Kapital AG purchased a new position in shares of Etsy during the 4th quarter valued at about $983,000. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 122,126 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Etsy during the 4th quarter worth approximately $492,000. Natixis Advisors LLC bought a new position in Etsy during the 4th quarter worth approximately $606,000. Finally, Intech Investment Management LLC bought a new position in Etsy during the 4th quarter worth approximately $751,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ETSY shares. Truist Financial reduced their price target on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a "hold" rating in a research report on Monday, April 14th. UBS Group cut their price objective on Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research report on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.14.

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were 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 of the company's stock, valued at $28,593.60. This represents a 70.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the sale, the insider now directly owns 33,322 shares of the company's stock, valued at $1,435,178.54. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,418 shares of company stock valued at $3,601,377. 2.60% of the stock is owned by insiders.

Etsy Trading Up 0.0%

Etsy stock opened at $47.03 on Tuesday. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.93. The business's fifty day simple moving average is $45.41 and its two-hundred day simple moving average is $50.85. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last issued 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 negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same period last year, the firm posted $0.48 EPS. Etsy's quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

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.

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