Segantii Capital Management Ltd Purchases Shares of 1,900 Etsy, Inc. (NASDAQ:ETSY)

Segantii Capital Management Ltd bought a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,900 shares of the specialty retailer’s stock, valued at approximately $154,000.

Several other hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC bought a new stake in shares of Etsy in the 4th quarter valued at $27,000. Operose Advisors LLC bought a new position in Etsy during the 3rd quarter valued at $28,000. Tompkins Financial Corp purchased a new position in Etsy during the fourth quarter worth about $41,000. Harvest Fund Management Co. Ltd bought a new stake in Etsy during the fourth quarter worth $49,000. Finally, KB Financial Partners LLC raised its position in Etsy by 99.5% in the third quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 417 shares during the period. 99.53% of the stock is owned by institutional investors.

Etsy Stock Performance

NASDAQ ETSY traded up $0.88 on Thursday, hitting $63.45. 2,598,072 shares of the stock were exchanged, compared to its average volume of 3,865,271. Etsy, Inc. has a 52-week low of $56.60 and a 52-week high of $102.81. The stock has a fifty day moving average price of $67.22 and a two-hundred day moving average price of $71.46. The firm has a market capitalization of $7.42 billion, a P/E ratio of 28.57, a P/E/G ratio of 4.73 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ETSY shares. Barclays reduced their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. UBS Group decreased their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Needham & Company LLC cut their price target on shares of Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. BTIG Research dropped their price target on Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Evercore ISI reduced their target price on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.96.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,968 shares of company stock worth $4,836,827. 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.