Bessemer Group Inc. Raises Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Bessemer Group Inc. raised its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 7,221.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,871 shares of the specialty retailer’s stock after buying an additional 29,463 shares during the quarter. Bessemer Group Inc.’s holdings in Etsy were worth $2,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ETSY. CVA Family Office LLC bought a new stake in Etsy during the fourth quarter worth about $27,000. Sunbelt Securities Inc. increased its position in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares in the last quarter. Larson Financial Group LLC raised its stake in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Etsy in the fourth quarter worth $47,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY traded up $0.02 on Thursday, hitting $60.28. 571,194 shares of the stock were exchanged, compared to its average volume of 3,575,034. Etsy, Inc. has a 52-week low of $55.08 and a 52-week high of $102.81. The firm has a market capitalization of $7.05 billion, a P/E ratio of 27.52, a P/E/G ratio of 4.99 and a beta of 2.02. The stock has a fifty day moving average price of $61.21 and a two-hundred day moving average price of $66.50.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts expect that Etsy, Inc. will post 2.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETSY. Stifel Nicolaus decreased their price objective on shares of Etsy from $67.00 to $65.00 and set a “hold” rating for the company in a report on Monday. Morgan Stanley dropped their target price on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group decreased their target price on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. BTIG Research lowered their price target on Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC reduced their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.92.

Insiders Place Their Bets

In related news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Etsy Company 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.