Daiwa Securities Group Inc. Trims Holdings in Etsy, Inc. (NASDAQ:ETSY)

Daiwa Securities Group Inc. trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 51.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,209 shares of the specialty retailer’s stock after selling 19,210 shares during the period. Daiwa Securities Group Inc.’s holdings in Etsy were worth $1,476,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ETSY. AE Wealth Management LLC lifted its holdings in shares of Etsy by 7.9% during the 3rd quarter. AE Wealth Management LLC now owns 13,680 shares of the specialty retailer’s stock worth $883,000 after acquiring an additional 998 shares during the period. DnB Asset Management AS lifted its holdings in shares of Etsy by 10.6% during the 3rd quarter. DnB Asset Management AS now owns 24,339 shares of the specialty retailer’s stock worth $1,572,000 after acquiring an additional 2,333 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Etsy by 107.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,739 shares of the specialty retailer’s stock worth $1,146,000 after acquiring an additional 9,186 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Etsy during the 3rd quarter worth about $134,000. Finally, Czech National Bank increased its position in Etsy by 47.2% during the 3rd quarter. Czech National Bank now owns 21,500 shares of the specialty retailer’s stock worth $1,388,000 after purchasing an additional 6,897 shares in the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 related news, 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 transaction of $4,570,907.50. Following the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at $1,677,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on 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 in the company, valued at $943,571.16. 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. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETSY. UBS Group dropped their target price on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Piper Sandler increased their target price on shares of Etsy from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. BTIG Research dropped their target price on shares of Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Evercore ISI dropped their target price 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. Finally, Truist Financial dropped their target price on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.88.

Etsy Trading Up 2.9 %

ETSY stock opened at $68.35 on Wednesday. Etsy, Inc. has a twelve month low of $58.20 and a twelve month high of $103.25. The company has a market capitalization of $8.10 billion, a P/E ratio of 30.51, a PEG ratio of 4.64 and a beta of 2.01. The firm has a 50 day simple moving average of $69.30 and a 200-day simple moving average of $71.53.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. The business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. On average, research analysts predict that Etsy, Inc. will post 2.58 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.