Kettle Hill Capital Management LLC Buys Shares of 115,021 Etsy, Inc. (NASDAQ:ETSY)

Kettle Hill Capital Management LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 115,021 shares of the specialty retailer’s stock, valued at approximately $6,083,000. Etsy accounts for about 1.3% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 26th largest position. Kettle Hill Capital Management LLC owned approximately 0.10% of Etsy as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ETSY. Gotham Asset Management LLC lifted its stake in Etsy by 133.3% during the fourth quarter. Gotham Asset Management LLC now owns 245,881 shares of the specialty retailer’s stock worth $13,005,000 after purchasing an additional 140,475 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Etsy by 3,439.7% during the 4th quarter. Focus Partners Wealth now owns 144,879 shares of the specialty retailer’s stock worth $7,666,000 after buying an additional 140,786 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in Etsy by 5.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 54,884 shares of the specialty retailer’s stock valued at $2,903,000 after buying an additional 2,760 shares in the last quarter. Captrust Financial Advisors bought a new position in Etsy in the fourth quarter valued at about $362,000. Finally, Balyasny Asset Management L.P. acquired a new position in Etsy during the fourth quarter worth about $19,412,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Etsy from $50.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Bank of America decreased their target price on shares of Etsy from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald increased their price target on Etsy from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Loop Capital reduced their price objective on Etsy from $40.00 to $37.00 and set a “sell” rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on Etsy from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Etsy presently has a consensus rating of “Hold” and a consensus price target of $50.14.

Etsy Stock Down 1.9 %

Shares of ETSY stock opened at $46.94 on Friday. The firm has a 50 day moving average of $45.44 and a 200-day moving average of $50.94. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $43.07, for a total transaction of $64,605.00. Following the transaction, the insider now owns 33,322 shares of the company’s stock, valued at $1,435,178.54. This represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,618 shares of company stock valued at $3,469,803. 2.60% of the stock is owned by company insiders.

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.