Susquehanna Fundamental Investments LLC Makes New $10.45 Million Investment in Etsy, Inc. (NASDAQ:ETSY)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 197,652 shares of the specialty retailer’s stock, valued at approximately $10,454,000. Susquehanna Fundamental Investments LLC owned approximately 0.18% of Etsy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Etsy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,309,622 shares of the specialty retailer’s stock valued at $651,056,000 after purchasing an additional 56,772 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Etsy by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer’s stock valued at $286,751,000 after buying an additional 235,550 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the period. DAVENPORT & Co LLC raised its stake in Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock worth $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after acquiring an additional 850,520 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now directly owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the company’s 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 sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 in the last 90 days. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETSY. Loop Capital reduced their price objective on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Morgan Stanley reduced their price target on shares of Etsy from $44.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Etsy and gave the company a “hold” rating in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. Finally, Truist Financial lowered their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Etsy currently has an average rating of “Hold” and an average target price of $55.54.

Etsy Trading Up 0.7 %

Shares of Etsy stock opened at $45.86 on Friday. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $71.72. The firm has a market capitalization of $4.83 billion, a PE ratio of 19.35, a P/E/G ratio of 2.57 and a beta of 2.15. The firm’s 50-day moving average price is $46.64 and its 200 day moving average price is $51.31.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, sell-side analysts predict that Etsy, Inc. will post 2.57 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.