GAMMA Investing LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

GAMMA Investing LLC bought a new position in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 669 shares of the specialty retailer’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETSY. CVA Family Office LLC acquired a new stake in shares of Etsy in the 4th quarter worth approximately $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy in the 3rd quarter worth approximately $28,000. Tompkins Financial Corp acquired a new stake in shares of Etsy in the 4th quarter worth approximately $41,000. KB Financial Partners LLC lifted its stake in shares of Etsy by 99.5% in the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 417 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Etsy by 33.1% in the 3rd quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock worth $71,000 after acquiring an additional 274 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ETSY shares. Evercore ISI reduced their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Etsy in a research note on Friday, March 1st. BTIG Research cut their target price on shares of Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wedbush cut their target price on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and cut their target price for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.04.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock worth $4,836,827 in the last 90 days. 2.60% of the stock is owned by insiders.

Etsy Stock Performance

Etsy stock opened at $69.74 on Thursday. The firm has a market cap of $8.16 billion, a PE ratio of 31.00, a P/E/G ratio of 4.79 and a beta of 2.01. The firm’s 50 day moving average price is $68.42 and its two-hundred day moving average price is $71.66. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $102.81.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The company had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Equities analysts anticipate that Etsy, Inc. will post 2.58 EPS for the current fiscal 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.