World Investment Advisors Buys New Shares in Etsy, Inc. (NASDAQ:ETSY)

World Investment Advisors acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,921 shares of the specialty retailer's stock, valued at approximately $327,000.

Several other large investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in Etsy in the 4th quarter worth about $74,235,000. Assenagon Asset Management S.A. boosted its position in shares of Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after acquiring an additional 535,864 shares during the last quarter. AQR Capital Management LLC lifted its position in Etsy by 89.1% in the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after buying an additional 419,038 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Etsy in the 4th quarter worth approximately $19,412,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Etsy in the 4th quarter worth approximately $15,630,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 target price for the company. in a report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a "hold" rating in a research note on Monday, April 14th. UBS Group decreased 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. Canaccord Genuity Group cut their target price on Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $49.91.

Insiders Place Their Bets

In other news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer directly owned 2,896 shares of the company's stock, valued at approximately $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $51.37, for a total value of $1,112,982.42. Following the completion of the sale, the chief executive officer directly owned 62,674 shares of the company's stock, valued at $3,219,563.38. The trade was a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,298 shares of company stock valued at $11,156,039 over the last quarter. 2.80% of the stock is owned by insiders.

Etsy Stock Performance

Etsy stock traded down $0.16 during midday trading on Monday, hitting $57.71. 3,046,276 shares of the company were exchanged, compared to its average volume of 4,335,264. The firm has a market capitalization of $6.02 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 3.18 and a beta of 1.74. The business has a fifty day simple moving average of $52.91 and a two-hundred day simple moving average of $50.73. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. 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 business earned $0.48 EPS. The business's revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share 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.