Contrarius Group Holdings Ltd Takes $11.74 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Contrarius Group Holdings Ltd purchased a new stake in Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 222,055 shares of the specialty retailer’s stock, valued at approximately $11,744,000. Etsy comprises 0.7% of Contrarius Group Holdings Ltd’s portfolio, making the stock its 26th biggest position. Contrarius Group Holdings Ltd owned 0.20% of Etsy at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC increased its stake in 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 in the last quarter. Kestra Investment Management LLC bought a new stake in Etsy during the 4th quarter worth approximately $38,000. Versant Capital Management Inc increased its stake in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 499 shares in the last quarter. Blue Trust Inc. increased its stake in Etsy by 95.1% during the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 426 shares in the last quarter. Finally, Denver PWM LLC increased its stake in Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 289 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

ETSY stock opened at $44.72 on Thursday. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.57 and a beta of 2.23. The business’s fifty day moving average price is $51.88 and its two-hundred day moving average price is $53.02. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Canaccord Genuity Group reduced their price target on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Truist Financial reduced their price target on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Moffett Nathanson upped their price target on Etsy from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and reduced their price target for the stock from $45.00 to $43.00 in a research report 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 company. According to data from MarketBeat, Etsy presently has an average rating of “Hold” and a consensus price target of $58.42.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value 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 trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the transaction, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,666 shares of company stock worth $1,286,445. Company insiders own 2.60% of the company’s stock.

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.