Trexquant Investment LP Buys 189,741 Shares of Etsy, Inc. (NASDAQ:ETSY)

Trexquant Investment LP increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 174.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 298,270 shares of the specialty retailer’s stock after purchasing an additional 189,741 shares during the quarter. Trexquant Investment LP’s holdings in Etsy were worth $15,776,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in shares of Etsy by 28.9% during the third quarter. Cerity Partners LLC now owns 22,884 shares of the specialty retailer’s stock valued at $1,271,000 after acquiring an additional 5,128 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in Etsy during the 3rd quarter worth approximately $222,000. CreativeOne Wealth LLC bought a new position in Etsy in the third quarter worth approximately $238,000. Holocene Advisors LP acquired a new position in shares of Etsy during the third quarter valued at about $49,061,000. Finally, Janus Henderson Group PLC boosted its position in shares of Etsy by 7.8% during the third quarter. Janus Henderson Group PLC now owns 482,262 shares of the specialty retailer’s stock valued at $26,780,000 after buying an additional 34,991 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ETSY. Loop Capital decreased their price target on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Etsy to a “hold” rating and lowered their target price for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. JMP Securities reiterated a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Stifel Nicolaus cut their target price on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, Citigroup lowered their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $58.42.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the sale, the insider now owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the 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 sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. 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. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Up 2.9 %

Shares of NASDAQ ETSY opened at $48.53 on Wednesday. The firm has a 50-day simple moving average of $50.74 and a 200-day simple moving average of $52.55. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 52 week low of $43.43 and a 52 week high of $71.72.

Etsy (NASDAQ:ETSY) last announced 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. The company 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 earnings per share. As a group, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current 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.