Proficio Capital Partners LLC Makes New Investment in Etsy, Inc. (NASDAQ:ETSY)

Proficio Capital Partners LLC acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,424 shares of the specialty retailer’s stock, valued at approximately $604,000.

Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Etsy by 183.9% during the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock worth $331,067,000 after buying an additional 3,861,668 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Etsy by 17.4% during the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after acquiring an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after acquiring an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after acquiring an additional 850,520 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Etsy during the 3rd quarter valued at $55,530,000. Institutional investors and hedge funds 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 that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at $260,458.20. The trade was a 81.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 22,198 shares in the company, 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. Insiders have sold a total of 24,666 shares of company stock worth $1,286,445 over the last 90 days. Insiders own 2.60% of the company’s stock.

Etsy Stock Performance

NASDAQ ETSY opened at $46.80 on Monday. The stock’s 50 day moving average price is $53.17 and its two-hundred day moving average price is $53.53. Etsy, Inc. has a 52 week low of $45.85 and a 52 week high of $73.48. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

ETSY has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Citigroup dropped their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of Etsy from $44.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Moffett Nathanson upped their target price on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus dropped their target price 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 analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.78.

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.