Pacer Advisors Inc. Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

Pacer Advisors Inc. lowered its position in shares of Etsy, Inc. (NASDAQ:ETSYFree Report) by 82.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,870 shares of the specialty retailer’s stock after selling 78,424 shares during the quarter. Pacer Advisors Inc.’s holdings in Etsy were worth $1,367,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Bares Capital Management Inc. boosted its holdings in Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after acquiring an additional 1,480,655 shares during the period. Van ECK Associates Corp boosted its holdings in Etsy by 40.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after acquiring an additional 1,047,811 shares during the period. Clearbridge Investments LLC boosted its holdings in Etsy by 69.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after acquiring an additional 950,415 shares during the period. Capital International Investors boosted its holdings in Etsy by 56.1% in the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after acquiring an additional 768,350 shares during the period. Finally, Norges Bank purchased a new position in Etsy in the 4th quarter worth approximately $66,556,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the subject of a number of analyst reports. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Guggenheim upped their target price on Etsy from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, December 15th. BTIG Research cut their target price on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley cut their target price on Etsy from $66.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company upped their target price on Etsy from $59.00 to $62.00 and gave the company an “underweight” rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.88.

View Our Latest Analysis on Etsy

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 63,047 shares of the 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 of the company’s stock, valued at $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the transaction, the chief executive officer now directly owns 23,140 shares of the company’s stock, valued at $1,677,650. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was 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 in the company, valued at $943,571.16. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $68.72 on Monday. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $114.73. The firm has a market capitalization of $8.14 billion, a PE ratio of 30.68, a P/E/G ratio of 4.75 and a beta of 2.02. The business’s fifty day moving average price is $71.23 and its two-hundred day moving average price is $71.18.

Etsy (NASDAQ:ETSYGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The company had revenue of $842.32 million during the quarter, compared to analysts’ expectations of $827.40 million. Equities research analysts expect that Etsy, Inc. will post 2.6 earnings per share for the current fiscal year.

Etsy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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