Stadium Capital Management LLC Invests $3.59 Million in Etsy, Inc. (NASDAQ:ETSY)

Stadium Capital Management LLC bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 67,800 shares of the specialty retailer's stock, valued at approximately $3,586,000. Etsy makes up about 3.0% of Stadium Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Stadium Capital Management LLC owned approximately 0.06% of Etsy as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Etsy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer's stock worth $651,056,000 after acquiring an additional 56,772 shares in the last quarter. 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 acquiring an additional 235,550 shares in the last quarter. Van ECK Associates Corp boosted its stake in Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after acquiring an additional 522,111 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Etsy by 12.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock worth $92,452,000 after acquiring an additional 188,386 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Etsy by 132.9% in the fourth 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 Trading Up 0.0%

NASDAQ ETSY traded up $0.01 during trading hours on Monday, hitting $47.03. 2,958,401 shares of the company's stock traded hands, compared to its average volume of 3,893,666. The business's fifty day moving average price is $45.41 and its two-hundred day moving average price is $50.85. The firm has a market capitalization of $4.90 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on ETSY shares. Citigroup decreased 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. JPMorgan Chase & Co. decreased their target price on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price 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. Cantor Fitzgerald lifted their target price on shares of Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, UBS Group decreased their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $50.14.

Insider Activity at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at $260,458.20. This represents a 81.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the sale, the insider now directly owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,418 shares of company stock worth $3,601,377. 2.60% of the stock is owned by company insiders.

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.