Hurley Capital LLC Buys Shares of 600 Etsy, Inc. (NASDAQ:ETSY)

Hurley Capital LLC purchased a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 600 shares of the specialty retailer’s stock, valued at approximately $32,000.

Several other large investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Etsy by 7.8% during the 3rd quarter. Janus Henderson Group PLC now owns 482,262 shares of the specialty retailer’s stock worth $26,780,000 after buying an additional 34,991 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Etsy by 146.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 22,876 shares of the specialty retailer’s stock worth $1,270,000 after acquiring an additional 13,577 shares in the last quarter. Investment Management Corp of Ontario bought a new position in shares of Etsy in the third quarter worth about $345,000. Quarry LP boosted its stake in shares of Etsy by 120.4% in the 3rd quarter. Quarry LP now owns 1,953 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Etsy by 354.9% during the 3rd quarter. Quantinno Capital Management LP now owns 50,425 shares of the specialty retailer’s stock valued at $2,800,000 after purchasing an additional 39,340 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETSY shares. Stifel Nicolaus cut their price objective on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. UBS Group cut their price target on Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. assumed coverage on shares of Etsy in a research report on Wednesday, March 19th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued 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.com, the company has a consensus rating of “Hold” and a consensus target price of $58.38.

Etsy Trading Down 8.2 %

ETSY opened at $44.42 on Friday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. The company’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $52.43. Etsy, Inc. has a 1-year low of $43.43 and a 1-year high of $71.72.

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

Insider Buying and Selling

In other news, insider Nicholas Daniel sold 1,500 shares of the business’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 value of $83,010.00. Following the transaction, the insider now owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,952 shares of company stock worth $2,554,620. 2.60% of the stock is 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.