Kettle Hill Capital Management LLC Buys Shares of 115,021 Etsy, Inc. (NASDAQ:ETSY)

Kettle Hill Capital Management LLC acquired a new stake 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 firm acquired 115,021 shares of the specialty retailer's stock, valued at approximately $6,083,000. Etsy makes up approximately 1.3% of Kettle Hill Capital Management LLC's holdings, making the stock its 26th largest position. Kettle Hill Capital Management LLC owned approximately 0.10% of Etsy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Etsy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after purchasing an additional 56,772 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Etsy by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock worth $286,751,000 after buying an additional 235,550 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 worth $186,583,000 after buying an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock worth $92,452,000 after buying an additional 188,386 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake 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 worth $78,827,000 after buying an additional 850,520 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Etsy Stock Up 0.4%

ETSY traded up $0.19 during trading on Wednesday, reaching $46.96. The company had a trading volume of 4,158,619 shares, compared to its average volume of 3,874,165. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The stock has a market cap of $4.90 billion, a P/E ratio of 19.81, a PEG ratio of 2.57 and a beta of 1.78. The business has a 50 day simple moving average of $45.40 and a 200-day simple moving average of $50.89.

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 last year, the business posted $0.48 earnings per share. The firm's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ETSY. Citigroup reduced their target price on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Bank of America reduced their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group cut their price objective on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Loop Capital cut their price objective on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Finally, B. Riley cut their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $50.14.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $43.09, for a total transaction of $933,587.94. Following the completion of the sale, the chief executive officer now directly owns 53,484 shares in the company, valued at approximately $2,304,625.56. This trade represents a 28.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the transaction, the insider now directly owns 592 shares in the company, valued at $28,593.60. This trade represents a 70.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,618 shares of company stock worth $3,469,803. 2.60% of the stock is currently owned by insiders.

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.