Neuberger Berman Group LLC Acquires 9,260 Shares of Etsy, Inc. (NASDAQ:ETSY)

Neuberger Berman Group LLC raised its holdings in Etsy, Inc. (NASDAQ:ETSY) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,827 shares of the specialty retailer’s stock after purchasing an additional 9,260 shares during the quarter. Neuberger Berman Group LLC owned 0.05% of Etsy worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Etsy by 23.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after acquiring an additional 57,785 shares during the period. Private Advisor Group LLC bought a new position in shares of Etsy during the 4th quarter worth $503,000. Charles Schwab Investment Management Inc. grew its stake in shares of Etsy by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,177,282 shares of the specialty retailer’s stock worth $95,419,000 after acquiring an additional 61,677 shares during the period. Northern Trust Corp grew its stake in shares of Etsy by 4.3% during the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after acquiring an additional 48,934 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Etsy during the 4th quarter worth $2,273,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

ETSY traded down $1.46 on Friday, hitting $60.62. 5,389,052 shares of the company were exchanged, compared to its average volume of 4,033,008. The firm has a fifty day simple moving average of $65.71 and a two-hundred day simple moving average of $71.48. Etsy, Inc. has a 12 month low of $56.60 and a 12 month high of $102.81. The stock has a market capitalization of $7.09 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 4.94 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, equities analysts expect that Etsy, Inc. will post 2.49 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETSY. Oppenheimer cut their price target on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Morgan Stanley cut their target price on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Citigroup cut their target price on Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JMP Securities downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Finally, B. Riley cut their target price on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.96.

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.