Sumitomo Mitsui Trust Holdings Inc. Sells 21,387 Shares of Etsy, Inc. (NASDAQ:ETSY)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 365,242 shares of the specialty retailer’s stock after selling 21,387 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Etsy were worth $29,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP lifted its holdings in shares of Etsy by 121.7% during the first quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 146 shares during the last quarter. KB Financial Partners LLC raised its stake in Etsy by 41.7% during the first quarter. KB Financial Partners LLC now owns 520 shares of the specialty retailer’s stock valued at $65,000 after buying an additional 153 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Etsy by 7.3% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock worth $280,000 after acquiring an additional 153 shares in the last quarter. Arizona State Retirement System grew its stake 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 worth $2,740,000 after acquiring an additional 157 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in shares of Etsy by 2.0% during the first quarter. Snowden Capital Advisors LLC now owns 8,761 shares of the specialty retailer’s stock valued at $975,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 0.9 %

Shares of NASDAQ ETSY opened at $66.76 on Monday. Etsy, Inc. has a 12-month low of $58.20 and a 12-month high of $104.93. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 4.66 and a beta of 2.01. The firm has a 50 day moving average of $69.67 and a 200 day moving average of $71.46.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Sell-side analysts predict that Etsy, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s 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 owns 13,138 shares of the company’s stock, valued at $943,571.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction on Tuesday, February 27th. The shares were 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 owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ETSY has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. BTIG Research cut their price target on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group lowered shares of Etsy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Barclays increased their target price on Etsy from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler boosted their price target on Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.88.

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.