Etsy, Inc. (NASDAQ:ETSY) Shares Acquired by Tairen Capital Ltd

Tairen Capital Ltd increased its stake in Etsy, Inc. (NASDAQ:ETSY) by 75.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the specialty retailer’s stock after acquiring an additional 15,000 shares during the quarter. Tairen Capital Ltd’s holdings in Etsy were worth $1,851,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Merit Financial Group LLC acquired a new stake in shares of Etsy in the fourth quarter worth $204,000. Ameritas Advisory Services LLC boosted its position in shares of Etsy by 3.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 16,662 shares of the specialty retailer’s stock worth $881,000 after buying an additional 631 shares during the period. Lmcg Investments LLC acquired a new stake in shares of Etsy in the fourth quarter worth $1,435,000. JBGlobal.com LLC acquired a new stake in shares of Etsy in the fourth quarter worth $404,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Etsy by 1,298.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,931 shares of the specialty retailer’s stock worth $208,000 after buying an additional 3,650 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $47.02 on Monday. The company has a market cap of $4.90 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.57 and a beta of 1.78. The stock’s 50-day moving average is $45.37 and its 200-day moving average is $50.90. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.93.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ETSY. Canaccord Genuity Group cut their price objective on Etsy from $76.00 to $72.00 and set a “buy” rating for the company in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Etsy and gave the stock a “hold” rating in a report on Monday, April 14th. Barclays cut their price objective on Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on Etsy from $50.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Stifel Nicolaus cut their price objective on Etsy from $51.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.14.

Insider Buying and Selling

In related news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer now directly owns 2,896 shares of the company’s stock, valued at $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now directly owns 20,698 shares in the company, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,418 shares of company stock valued at $3,601,377 over the last three months. 2.60% of the stock is owned by corporate 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.