Jacobs Levy Equity Management Inc. Acquires 27,638 Shares of Etsy, Inc. (NASDAQ:ETSY)

Jacobs Levy Equity Management Inc. lifted its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 120.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,514 shares of the specialty retailer's stock after purchasing an additional 27,638 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Etsy were worth $2,672,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Etsy in the fourth quarter valued at $74,235,000. Assenagon Asset Management S.A. grew its position in shares of Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock valued at $78,827,000 after acquiring an additional 850,520 shares during the period. Victory Capital Management Inc. increased its stake in shares of Etsy by 703.8% during the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after purchasing an additional 522,111 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Etsy by 89.1% during the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after purchasing an additional 419,038 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer now directly owns 2,896 shares of the company's stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This trade represents a 81.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,418 shares of company stock worth $3,601,377 over the last 90 days. Insiders own 2.60% of the company's stock.

Etsy Stock Up 0.0%

Shares of NASDAQ:ETSY traded up $0.01 during midday trading on Monday, hitting $47.03. The stock had a trading volume of 2,958,401 shares, compared to its average volume of 3,893,666. The company's 50-day moving average price is $45.37 and its 200-day moving average price is $50.90. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The company has a market capitalization of $4.90 billion, a P/E 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 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 negative return on equity of 46.62% and a net margin of 10.80%. The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETSY shares. Loop Capital dropped their price objective on Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Evercore ISI cut their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on shares of Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their price target on shares of Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.14.

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.