Sigma Planning Corp Sells 656 Shares of Etsy, Inc. (NASDAQ:ETSY)

Sigma Planning Corp lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,317 shares of the specialty retailer’s stock after selling 656 shares during the period. Sigma Planning Corp’s holdings in Etsy were worth $269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC bought a new stake in Etsy in the fourth quarter valued at approximately $27,000. Operose Advisors LLC purchased a new position in shares of Etsy during the third quarter valued at approximately $28,000. Tompkins Financial Corp purchased a new position in shares of Etsy during the fourth quarter valued at approximately $41,000. KB Financial Partners LLC increased its stake in shares of Etsy by 99.5% during the third quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after buying an additional 417 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Etsy by 33.1% during the third quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock valued at $71,000 after buying an additional 274 shares during the period. Institutional investors own 99.53% of the company’s stock.

Insider Activity

In other 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the 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 SEC, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 directly owns 23,140 shares in the company, valued at approximately $1,677,650. The disclosure for this sale can be found here. Insiders have sold a total of 66,968 shares of company stock valued at $4,836,827 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Etsy Price Performance

Shares of NASDAQ:ETSY opened at $67.43 on Monday. The company has a market cap of $7.89 billion, a P/E ratio of 30.10, a PEG ratio of 4.69 and a beta of 2.01. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $102.81. The stock’s fifty day moving average price is $68.72 and its 200-day moving average price is $71.60.

Etsy (NASDAQ:ETSY) last announced 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. The firm had revenue of $842.32 million for the quarter, compared to the consensus estimate of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley reissued an “underweight” rating and set a $55.00 target price (down from $65.00) on shares of Etsy in a research note on Thursday, April 18th. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $84.00 to $80.00 in a research note on Wednesday, January 10th. Wells Fargo & Company reduced their target price on Etsy from $62.00 to $60.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Finally, BTIG Research reduced their price target on Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.46.

Etsy Company 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.