Stevens Capital Management LP Acquires 22,473 Shares of Etsy, Inc. (NASDAQ:ETSY)

Stevens Capital Management LP increased its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 365.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,622 shares of the specialty retailer's stock after buying an additional 22,473 shares during the quarter. Stevens Capital Management LP's holdings in Etsy were worth $2,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ETSY. Atria Wealth Solutions Inc. grew its stake in Etsy by 24.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,223 shares of the specialty retailer's stock worth $666,000 after purchasing an additional 1,641 shares during the period. Wynn Capital LLC purchased a new stake in shares of Etsy in the fourth quarter worth $218,000. Harvest Fund Management Co. Ltd bought a new position in shares of Etsy during the fourth quarter valued at $49,000. GAMMA Investing LLC bought a new position in shares of Etsy during the fourth quarter valued at $54,000. Finally, Duality Advisers LP bought a new position in shares of Etsy during the fourth quarter valued at $909,000. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company's stock, valued at approximately $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The disclosure for this sale can be found here. In the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. Insiders own 2.60% of the company's stock.

Etsy Price Performance

Shares of NASDAQ:ETSY traded up $0.23 during trading on Friday, hitting $67.43. 2,071,927 shares of the company's stock were exchanged, compared to its average volume of 3,665,768. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 4.65 and a beta of 2.01. The business's 50-day simple moving average is $68.90 and its 200 day simple moving average is $71.47. Etsy, Inc. has a 52-week low of $58.20 and a 52-week high of $102.81.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BTIG Research lowered their price target on Etsy from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. Truist Financial lowered their price target on Etsy from $87.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Etsy from $80.00 to $65.00 and set a "hold" rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company lowered their price target on Etsy from $62.00 to $60.00 and set an "underweight" rating on the stock in a report on Thursday, April 4th. Finally, The Goldman Sachs Group downgraded Etsy from a "buy" rating to a "neutral" rating and lowered their price target for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.46.

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.

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