Allspring Global Investments Holdings LLC Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

Allspring Global Investments Holdings LLC cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 8.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,494 shares of the specialty retailer’s stock after selling 563 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Etsy were worth $526,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Bares Capital Management Inc. boosted its stake in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after buying an additional 1,480,655 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Etsy by 40.3% in the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock valued at $235,666,000 after buying an additional 1,047,811 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Etsy by 3.4% in the third quarter. Artisan Partners Limited Partnership now owns 1,524,871 shares of the specialty retailer’s stock valued at $98,476,000 after buying an additional 50,731 shares in the last quarter. Northern Trust Corp raised its holdings in Etsy by 4.3% during the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock worth $77,118,000 after purchasing an additional 48,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Etsy by 46.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock worth $72,046,000 after purchasing an additional 352,255 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETSY. Evercore ISI reduced their price objective on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. BTIG Research reduced their price objective on Etsy from $90.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Barclays lifted their price objective on Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $84.00 to $80.00 in a report on Wednesday, January 10th. Finally, Wells Fargo & Company cut their price target on Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.46.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the company’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 completion of the sale, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Daniel sold 1,500 shares of the 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 completion of 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. Over the last 90 days, insiders sold 66,968 shares of company stock valued at $4,836,827. Company insiders own 2.60% of the company’s stock.

Etsy Trading Up 0.5 %

ETSY stock opened at $67.20 on Friday. The stock has a 50-day moving average price of $69.12 and a two-hundred day moving average price of $71.50. Etsy, Inc. has a 12-month low of $58.20 and a 12-month high of $102.81. The company has a market cap of $7.87 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 4.76 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results 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 negative return on equity of 70.75% and a net margin of 11.19%. The firm had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Equities analysts forecast that Etsy, Inc. will post 2.58 EPS for the current fiscal year.

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.