LGT Fund Management Co Ltd. Takes $272,000 Position in Etsy, Inc. (NASDAQ:ETSY)

LGT Fund Management Co Ltd. bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,137 shares of the specialty retailer’s stock, valued at approximately $272,000.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in shares of Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Etsy during the 3rd quarter worth approximately $55,530,000. Holocene Advisors LP bought a new position in Etsy in the third quarter worth $49,061,000. Assenagon Asset Management S.A. lifted its position in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after acquiring an additional 850,520 shares during the period. Finally, 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. 99.53% of the stock is owned by institutional investors.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Etsy Stock Down 4.2 %

Shares of ETSY opened at $49.05 on Tuesday. The business has a 50-day simple moving average of $53.77 and a two-hundred day simple moving average of $53.73. Etsy, Inc. has a 52 week low of $47.10 and a 52 week high of $73.48. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ETSY. Citigroup lowered their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and raised their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. UBS Group cut their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their price target for the company from $45.00 to $43.00 in a research report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy presently has a consensus rating of “Hold” and an average target price of $58.78.

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.