Harvest Fund Management Co. Ltd Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Harvest Fund Management Co. Ltd purchased a new position in Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 611 shares of the specialty retailer’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CVA Family Office LLC bought a new position in shares of Etsy during the 4th quarter valued at approximately $27,000. Operose Advisors LLC bought a new position in shares of Etsy during the 3rd quarter valued at approximately $28,000. Tompkins Financial Corp bought a new position in shares of Etsy during the 4th quarter valued at approximately $41,000. KB Financial Partners LLC boosted its position in shares of Etsy by 99.5% during the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 417 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Etsy in the fourth quarter worth $54,000. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Up 0.3 %

Shares of Etsy stock opened at $67.43 on Friday. The firm has a market cap of $7.89 billion, a P/E ratio of 30.10, a P/E/G ratio of 4.68 and a beta of 2.01. Etsy, Inc. has a 12 month low of $58.20 and a 12 month high of $102.81. The stock’s fifty day moving average price is $68.90 and its 200-day moving average price is $71.47.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. Analysts forecast that Etsy, Inc. will post 2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETSY. BTIG Research lowered their price target on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Truist Financial lowered their price target on Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company lowered their price target on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Finally, UBS Group lowered their price target on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.46.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the sale, the insider now owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, the insider now directly owns 19,682 shares in the company, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last quarter. 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.