Landscape Capital Management L.L.C. Purchases New Position in Etsy, Inc. (NASDAQ:ETSY)

Landscape Capital Management L.L.C. acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,323 shares of the specialty retailer’s stock, valued at approximately $1,075,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETSY. Norges Bank bought a new stake in shares of Etsy in the 4th quarter worth about $74,235,000. Assenagon Asset Management S.A. grew its stake in Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Etsy by 703.8% during the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after buying an additional 711,572 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Etsy by 17.4% in the fourth 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 last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after acquiring an additional 411,165 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Insider Activity at Etsy

In related news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Insiders sold a total of 50,952 shares of company stock worth $2,554,620 in the last quarter. 2.60% of the stock is owned by insiders.

Etsy Stock Performance

NASDAQ ETSY opened at $44.42 on Friday. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The stock has a market cap of $4.76 billion, a PE ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. The firm’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $52.43.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Canaccord Genuity Group cut their price objective on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. UBS Group reduced their price target on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on shares of Etsy from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and decreased their price target for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.38.

Etsy Company 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.