Aigen Investment Management LP Acquires New Position in Etsy, Inc. (NASDAQ:ETSY)

Aigen Investment Management LP acquired a new stake in Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,819 shares of the specialty retailer’s stock, valued at approximately $1,048,000.

Several other large investors have also bought and sold shares of the business. Denver PWM LLC lifted its holdings in Etsy by 36.1% in the fourth 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 period. Gagnon Securities LLC lifted its holdings in Etsy by 7.9% in the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 376 shares during the period. M&T Bank Corp lifted its holdings in Etsy by 7.3% in the fourth quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer’s stock valued at $318,000 after buying an additional 409 shares during the period. Blue Trust Inc. lifted its holdings in Etsy by 95.1% in the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 426 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Etsy by 11.6% in the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 448 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETSY has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and increased their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft lowered shares of Etsy to a “hold” rating and cut their target price for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Etsy in a report on Thursday, February 20th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Finally, UBS Group cut their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Price Performance

Shares of ETSY stock opened at $50.00 on Thursday. The stock has a market cap of $5.35 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.57 and a beta of 2.00. The company has a fifty day moving average price of $53.53 and a two-hundred day moving average price of $53.67. Etsy, Inc. has a one year low of $47.10 and a one year high of $73.48.

Etsy (NASDAQ:ETSY) last posted 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. The company had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. Etsy’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Etsy 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 $1,228,437.32. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,666 shares of company stock worth $1,286,445 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.