KLP Kapitalforvaltning AS Purchases New Stake in Etsy, Inc. (NASDAQ:ETSY)

KLP Kapitalforvaltning AS acquired a new position in shares of Etsy, Inc. (NASDAQ:ETSY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,000 shares of the specialty retailer’s stock, valued at approximately $1,269,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. DJE Kapital AG bought a new position in shares of Etsy during the fourth quarter worth about $983,000. Charles Schwab Investment Management Inc. lifted its holdings in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer’s stock worth $59,820,000 after buying an additional 122,126 shares during the last quarter. Principal Financial Group Inc. grew 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 in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Etsy in the 4th quarter valued at approximately $492,000. Finally, American Capital Advisory LLC raised its position in shares of Etsy by 1,204,900.0% during the 4th quarter. American Capital Advisory LLC now owns 12,050 shares of the specialty retailer’s stock valued at $637,000 after acquiring an additional 12,049 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Performance

Shares of ETSY stock opened at $46.69 on Friday. Etsy, Inc. has a 1 year low of $43.43 and a 1 year high of $71.72. The business’s fifty day moving average is $50.93 and its 200-day moving average is $52.63. The stock has a market cap of $5.00 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. During the same period in the previous year, the business earned $0.62 earnings per share. Etsy’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 20,698 shares of the company’s stock, valued at approximately $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $1,286,445 over the last ninety days. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the subject of several recent research reports. Loop Capital lowered their target price on shares of Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, February 20th. Truist Financial decreased their price target on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Etsy in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and lowered their target price for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Finally, Citigroup dropped their price target on Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.42.

Etsy 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.