Optimize Financial Inc Takes $524,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Optimize Financial Inc 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 13F filing with the Securities and Exchange Commission. The firm purchased 9,906 shares of the specialty retailer's stock, valued at approximately $524,000.

A number of other large investors have also recently added to or reduced their stakes in ETSY. Vanguard Group Inc. grew its holdings in shares of Etsy by 0.5% during 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 during the period. Renaissance Technologies LLC boosted its stake in Etsy by 4.5% during the fourth 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 period. Van ECK Associates Corp increased its position in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC raised 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 valued at $92,452,000 after acquiring an additional 188,386 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 850,520 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Trading Up 3.8 %

ETSY stock traded up $1.63 on Thursday, hitting $44.15. The company's stock had a trading volume of 2,900,653 shares, compared to its average volume of 3,803,796. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $71.72. The firm has a 50 day moving average of $48.07 and a two-hundred day moving average of $51.65.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the transaction, the insider now owns 592 shares in the company, valued at $28,593.60. The trade was a 70.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock worth $2,554,620 in the last three months. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

ETSY has been the subject of several research reports. Cantor Fitzgerald dropped their target price on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Citigroup cut their price objective on Etsy from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial cut their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group dropped their price objective on shares of Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.42.

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.