Voloridge Investment Management LLC Has $25.20 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Voloridge Investment Management LLC lifted its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 476,457 shares of the specialty retailer's stock after acquiring an additional 137,602 shares during the quarter. Voloridge Investment Management LLC owned about 0.42% of Etsy worth $25,200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. iSAM Funds UK Ltd bought a new stake in Etsy in the fourth quarter worth about $288,000. Twinbeech Capital LP acquired a new position in shares of Etsy in the 4th quarter worth approximately $8,330,000. Tairen Capital Ltd raised its holdings in shares of Etsy by 75.0% in the 4th quarter. Tairen Capital Ltd now owns 35,000 shares of the specialty retailer's stock worth $1,851,000 after purchasing an additional 15,000 shares in the last quarter. Tidal Investments LLC lifted its stake in Etsy by 4.6% during the fourth quarter. Tidal Investments LLC now owns 29,428 shares of the specialty retailer's stock valued at $1,556,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Teza Capital Management LLC lifted its stake in Etsy by 6.6% during the fourth quarter. Teza Capital Management LLC now owns 30,676 shares of the specialty retailer's stock valued at $1,622,000 after purchasing an additional 1,905 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on ETSY shares. Morgan Stanley dropped their price target on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group decreased their target price on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 28th. UBS Group reduced their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus dropped their price target on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. 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 report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $50.14.

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 Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at $1,534,582.14. The trade was a 40.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,752 shares of company stock valued at $2,473,662. 2.60% of the stock is owned by corporate insiders.

Etsy Stock Up 4.4%

Shares of Etsy stock traded up $2.09 on Tuesday, hitting $49.69. 1,205,947 shares of the company traded hands, compared to its average volume of 3,900,025. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.93. The company has a market cap of $5.18 billion, a PE ratio of 20.96, a PEG ratio of 2.57 and a beta of 1.78. The company has a 50-day moving average price of $45.63 and a 200 day moving average price of $50.66.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same quarter last year, the firm earned $0.48 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current 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.