Kennondale Capital Management LLC Takes $926,000 Position in Etsy, Inc. (NASDAQ:ETSY)

Kennondale Capital Management LLC acquired a new stake in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,512 shares of the specialty retailer’s stock, valued at approximately $926,000.

Several other large investors also recently made changes to their positions in ETSY. Pacer Advisors Inc. boosted its position in shares of Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Etsy in the third quarter worth about $55,530,000. Holocene Advisors LP acquired a new position in shares of Etsy in the third quarter worth about $49,061,000. Assenagon Asset Management S.A. boosted its holdings in shares of Etsy by 132.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock worth $78,827,000 after buying an additional 850,520 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Etsy by 703.8% in the fourth quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer’s stock worth $42,982,000 after buying an additional 711,572 shares during the period. Institutional investors own 99.53% of the company’s stock.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the business’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 sale, the chief executive officer now directly owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ETSY. Deutsche Bank Aktiengesellschaft cut shares of Etsy to a “hold” rating and decreased their target price for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Cantor Fitzgerald decreased their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Loop Capital decreased their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Finally, Stifel Nicolaus reduced their price target on shares of Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.78.

Etsy Stock Performance

Shares of ETSY opened at $46.29 on Tuesday. The firm has a market cap of $4.96 billion, a PE ratio of 19.53, a PEG ratio of 2.57 and a beta of 2.23. The firm’s 50 day moving average price is $52.25 and its 200 day moving average price is $53.15. Etsy, Inc. has a twelve month low of $43.75 and a twelve month high of $71.72.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business 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 company earned $0.62 earnings per share. Etsy’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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.