International Assets Investment Management LLC Invests $38.49 Million in Etsy, Inc. (NASDAQ:ETSY)

International Assets Investment Management LLC purchased a new stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 47,495 shares of the specialty retailer's stock, valued at approximately $38,490,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer's stock valued at $19,977,000 after acquiring an additional 57,785 shares during the last quarter. Northern Trust Corp raised its holdings in Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer's stock valued at $77,118,000 after acquiring an additional 48,934 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Etsy during the 4th quarter worth approximately $27,000. Alpine Global Management LLC acquired a new stake in shares of Etsy during the 3rd quarter worth approximately $1,808,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Etsy by 217.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 400,300 shares of the specialty retailer's stock worth $32,444,000 after buying an additional 274,284 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Stock Up 1.2 %

Shares of NASDAQ ETSY traded up $0.73 during midday trading on Friday, hitting $59.97. The company had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.16 and a beta of 2.00. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The business has a 50-day simple moving average of $67.77 and a two-hundred day simple moving average of $71.53.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to analysts' expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities analysts forecast that Etsy, Inc. will post 2.55 EPS for the current year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares of the company's stock, valued at approximately $1,299,208.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares of the company's stock, valued at $1,299,208.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company's stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of research analyst reports. Truist Financial lowered their price objective on shares of Etsy from $85.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Etsy from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday. BTIG Research lowered their price objective on shares of Etsy from $87.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Etsy from $60.00 to $58.00 and set an "underweight" rating for the company in a research report on Thursday. Finally, Needham & Company LLC lowered their price objective on shares of Etsy from $95.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Etsy presently has an average rating of "Hold" and a consensus price target of $79.96.

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.