Hurley Capital LLC Buys Shares of 600 Etsy, Inc. (NASDAQ:ETSY)

Hurley Capital LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 600 shares of the specialty retailer’s stock, valued at approximately $32,000.

Several other large investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Etsy during the fourth quarter worth about $1,656,000. Pilgrim Partners Asia Pte Ltd bought a new position in Etsy in the 4th quarter worth approximately $125,000. Landscape Capital Management L.L.C. bought a new stake in Etsy during the 4th quarter valued at $1,075,000. ExodusPoint Capital Management LP lifted its position in shares of Etsy by 73.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 91,837 shares of the specialty retailer’s stock worth $4,857,000 after acquiring an additional 38,855 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Etsy by 174.8% in the fourth quarter. Trexquant Investment LP now owns 298,270 shares of the specialty retailer’s stock worth $15,776,000 after acquiring an additional 189,741 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ETSY. Stifel Nicolaus decreased their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Citigroup decreased their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Truist Financial cut their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and decreased their target price for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald cut their price target 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. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.38.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’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 transaction of $83,010.00. Following the completion of the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,952 shares of company stock worth $2,554,620. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

ETSY stock opened at $44.42 on Friday. The company has a market capitalization of $4.76 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a one year low of $43.43 and a one year high of $71.72. The company’s 50 day moving average price is $50.45 and its two-hundred day moving average price is $52.43.

Etsy (NASDAQ:ETSY) last issued 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 company earned $0.62 EPS. On average, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

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.