Victory Capital Management Inc. Has $42.98 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Victory Capital Management Inc. grew its position in Etsy, Inc. (NASDAQ:ETSY) by 703.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 812,671 shares of the specialty retailer’s stock after acquiring an additional 711,572 shares during the quarter. Victory Capital Management Inc. owned 0.72% of Etsy worth $42,982,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DJE Kapital AG bought a new stake in shares of Etsy in the 4th quarter worth approximately $983,000. Meritage Portfolio Management lifted its position in shares of Etsy by 152.4% in the 3rd quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after acquiring an additional 159,820 shares during the period. Pacer Advisors Inc. lifted its position in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after acquiring an additional 3,861,668 shares during the period. Principal Financial Group Inc. lifted its position in shares of Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock worth $30,125,000 after acquiring an additional 411,165 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Etsy by 258.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock worth $6,576,000 after acquiring an additional 85,396 shares during the period. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction dated 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 directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.34, for a total value of $83,010.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded Etsy to a “hold” rating and reduced their price objective for the stock from $45.00 to $43.00 in a research report on Wednesday, February 12th. UBS Group cut their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Canaccord Genuity Group cut their target price on Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Morgan Stanley cut their target price on Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Down 0.3 %

Shares of Etsy stock opened at $46.80 on Friday. Etsy, Inc. has a 12 month low of $45.85 and a 12 month high of $73.48. The business has a fifty day simple moving average of $53.17 and a 200 day simple moving average of $53.53. The stock has a market cap of $5.01 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last posted its 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. 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 during the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.