Etsy, Inc. (NASDAQ:ETSY) Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,248,902 shares of the specialty retailer's stock after purchasing an additional 436,231 shares during the period. Victory Capital Management Inc. owned 1.19% of Etsy worth $58,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Etsy during the first quarter valued at about $288,000. CWM LLC increased its position in shares of Etsy by 409.5% during the first quarter. CWM LLC now owns 97,797 shares of the specialty retailer's stock valued at $4,614,000 after acquiring an additional 78,602 shares during the last quarter. PYA Waltman Capital LLC increased its position in shares of Etsy by 21.7% during the first quarter. PYA Waltman Capital LLC now owns 29,662 shares of the specialty retailer's stock valued at $1,399,000 after acquiring an additional 5,294 shares during the last quarter. Cerity Partners LLC increased its position in shares of Etsy by 211.4% during the first quarter. Cerity Partners LLC now owns 94,691 shares of the specialty retailer's stock valued at $4,468,000 after acquiring an additional 64,279 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Etsy by 47.6% during the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 248 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In related news, CTO Richard Edward Colburn III sold 2,350 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the sale, the chief technology officer owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This represents a 44.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 151,666 shares of the stock in a transaction that occurred on 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 directly owned 107,809 shares of the company's stock, valued at approximately $6,218,423.12. This trade represents a 58.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,298 shares of company stock worth $11,156,039 in the last three months. Company insiders own 2.80% of the company's stock.

Etsy Stock Up 2.9%

Shares of Etsy stock traded up $1.67 on Friday, hitting $59.64. The company's stock had a trading volume of 3,897,849 shares, compared to its average volume of 4,355,336. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.18. The firm has a fifty day moving average price of $54.03 and a 200-day moving average price of $50.90. The company has a market capitalization of $6.22 billion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last released its 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 firm had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. Etsy's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. As a group, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analyst Ratings Changes

ETSY has been the subject of several recent research reports. Arete lowered shares of Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price objective for the company. in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group decreased their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Truist Financial lifted their price target on shares of Etsy from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, Piper Sandler decreased their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Etsy presently has an average rating of "Hold" and a consensus price target of $49.92.

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.