Optimize Financial Inc Invests $524,000 in Etsy, Inc. (NASDAQ:ETSY)

Optimize Financial Inc purchased a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 9,906 shares of the specialty retailer’s stock, valued at approximately $524,000.

Several other hedge funds have also added to or reduced their stakes in ETSY. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Larson Financial Group LLC increased its position in Etsy by 8.7% in the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after buying an additional 218 shares during the last quarter. Heron Bay Capital Management raised its stake in shares of Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer’s stock valued at $1,072,000 after buying an additional 258 shares during the period. Denver PWM LLC lifted its position in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 289 shares during the last quarter. Finally, Gagnon Securities LLC grew its stake in shares of Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock worth $272,000 after acquiring an additional 376 shares during the period. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the company’s 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 approximately $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,952 shares of company stock worth $2,554,620 over the last three months. Company insiders own 2.60% of the company’s stock.

Etsy Trading Up 0.0 %

Shares of NASDAQ ETSY opened at $43.60 on Friday. The stock’s 50-day moving average is $48.78 and its 200 day moving average is $51.89. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and dropped their price target for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Loop Capital dropped their target price on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on Etsy from $50.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.71.

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.