First Trust Advisors LP Invests $11.51 Million in Etsy, Inc. (NASDAQ:ETSY)

First Trust Advisors LP purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 217,552 shares of the specialty retailer's stock, valued at approximately $11,506,000. First Trust Advisors LP owned 0.19% of Etsy at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ETSY. Lindbrook Capital LLC lifted its stake in Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Hurley Capital LLC acquired a new stake in Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new position in Etsy in the fourth quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in Etsy during the fourth quarter worth about $37,000. Finally, Kestra Investment Management LLC bought a new position in shares of Etsy in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday. Citigroup dropped their price target on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $45.00 to $55.00 in a research report on Monday, January 13th. UBS Group dropped their target price on Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $52.67.

Etsy Price Performance

Shares of ETSY traded down $1.01 during trading hours on Thursday, hitting $42.47. The stock had a trading volume of 4,659,100 shares, compared to its average volume of 3,918,559. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The firm has a market capitalization of $4.47 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The firm has a 50 day simple moving average of $46.27 and a 200-day simple moving average of $51.20.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The company's revenue was up .8% compared to the same quarter last year. Equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now directly owns 22,198 shares of the company's stock, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,952 shares of company stock worth $2,554,620. Insiders own 2.60% of the company's stock.

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.