Kennondale Capital Management LLC Makes New $926,000 Investment in Etsy, Inc. (NASDAQ:ETSY)

Kennondale Capital Management LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,512 shares of the specialty retailer’s stock, valued at approximately $926,000.

Other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its stake in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Etsy in the fourth quarter valued at $38,000. Versant Capital Management Inc boosted its stake in shares of Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 499 shares during the period. Blue Trust Inc. boosted its stake in shares of Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 426 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Etsy in the third quarter valued at $59,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares of the company’s stock, valued at $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Up 1.4 %

ETSY stock opened at $46.29 on Tuesday. Etsy, Inc. has a fifty-two week low of $43.75 and a fifty-two week high of $71.72. The firm’s 50-day simple moving average is $52.25 and its 200 day simple moving average is $53.15. The stock has a market cap of $4.96 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business 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 company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Loop Capital decreased their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and reduced their price objective for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Truist Financial reduced their price objective 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, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target 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.