Natixis Advisors L.P. Purchases 68,334 Shares of Etsy, Inc. (NASDAQ:ETSY)

Natixis Advisors L.P. raised its position in Etsy, Inc. (NASDAQ:ETSY) by 73.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 161,148 shares of the specialty retailer’s stock after buying an additional 68,334 shares during the period. Natixis Advisors L.P.’s holdings in Etsy were worth $13,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Etsy by 23.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after buying an additional 57,785 shares during the period. Northern Trust Corp lifted its stake in shares of Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after acquiring an additional 48,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Etsy in the fourth quarter valued at approximately $2,273,000. International Assets Investment Management LLC bought a new stake in Etsy in the fourth quarter valued at approximately $38,490,000. Finally, CVA Family Office LLC acquired a new stake in Etsy during the 4th quarter valued at approximately $27,000. 99.53% of the stock is currently owned by institutional investors.

Insider Activity at Etsy

In other Etsy news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. B. Riley reduced their price objective on shares of Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC decreased their price target on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wedbush dropped their price objective on Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. JMP Securities downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Evercore ISI reduced their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.96.

Etsy Price Performance

ETSY opened at $62.77 on Wednesday. The firm’s fifty day moving average price is $67.39 and its two-hundred day moving average price is $71.52. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 4.73 and a beta of 2.00. Etsy, Inc. has a 1 year low of $56.60 and a 1 year high of $102.81.

Etsy (NASDAQ:ETSY) last issued 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). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate 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.