Knuff & Co LLC Purchases 7,648 Shares of Etsy, Inc. (NASDAQ:ETSY)

Knuff & Co LLC boosted its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 84.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,696 shares of the specialty retailer’s stock after acquiring an additional 7,648 shares during the quarter. Knuff & Co LLC’s holdings in Etsy were worth $1,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Etsy by 0.5% in the fourth quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock valued at $2,740,000 after purchasing an additional 157 shares during the period. Truist Financial Corp grew its stake in shares of Etsy by 2.7% in the fourth quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 168 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Etsy by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 55,455 shares of the specialty retailer’s stock valued at $3,581,000 after acquiring an additional 210 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Etsy by 1.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,653 shares of the specialty retailer’s stock valued at $944,000 after acquiring an additional 216 shares in the last quarter. Finally, Accretive Wealth Partners LLC grew its stake in shares of Etsy by 3.8% in the fourth quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock valued at $505,000 after acquiring an additional 226 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

Shares of ETSY traded up $0.73 during mid-day trading on Friday, hitting $59.97. The stock had a trading volume of 5,617,654 shares, compared to its average volume of 3,661,918. Etsy, Inc. has a 52 week low of $56.60 and a 52 week high of $102.81. The business has a fifty day moving average price of $67.77 and a 200-day moving average price of $71.53. The firm has a market cap of $7.02 billion, a P/E ratio of 27.38, a PEG ratio of 4.22 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ETSY. Oppenheimer decreased their price target on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Citigroup decreased their price target on shares of Etsy from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley reduced their price objective on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday. Wedbush reduced their price objective on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Etsy presently has a consensus rating of “Hold” and an average target price of $79.96.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the transaction, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at approximately $943,571.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

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.