Aigen Investment Management LP Acquires New Shares in Etsy, Inc. (NASDAQ:ETSY)

Aigen Investment Management LP acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,819 shares of the specialty retailer’s stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Etsy during the 4th quarter worth $38,000. Capital Performance Advisors LLP acquired a new position in Etsy during the 3rd quarter worth $43,000. Versant Capital Management Inc lifted its position in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after acquiring an additional 499 shares during the last quarter. Blue Trust Inc. lifted its position in Etsy by 95.1% during the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 426 shares during the last quarter. Finally, Denver PWM LLC lifted its position in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 289 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $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 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, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the transaction, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. The trade was a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,666 shares of company stock worth $1,286,445. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETSY. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a research report on Thursday, February 20th. Moffett Nathanson boosted their price objective on shares of Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley dropped their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald dropped their price objective on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Citigroup dropped their price objective on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.78.

Etsy Trading Up 1.1 %

Shares of Etsy stock opened at $50.00 on Thursday. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 1-year low of $47.10 and a 1-year high of $73.48. The firm’s 50-day moving average price is $53.53 and its two-hundred day moving average price is $53.67.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The firm 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, equities research analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy 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.