Etsy, Inc. (NASDAQ:ETSY) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.3% during the fourth quarter, HoldingsChannel reports. The fund owned 31,903 shares of the specialty retailer’s stock after selling 1,788 shares during the quarter. New York Life Investment Management LLC’s holdings in Etsy were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bares Capital Management Inc. grew its position in Etsy by 57.8% during the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock worth $261,143,000 after buying an additional 1,480,655 shares during the period. Van ECK Associates Corp grew its position in Etsy by 40.3% during the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock worth $235,666,000 after buying an additional 1,047,811 shares during the period. Epoch Investment Partners Inc. grew its position in Etsy by 107.4% during the third quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock worth $45,866,000 after buying an additional 367,759 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 352,255 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Etsy by 217.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 400,300 shares of the specialty retailer’s stock worth $32,444,000 after buying an additional 274,284 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETSY has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday. Morgan Stanley reduced their price target on shares of Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday. Guggenheim reduced their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Wedbush reduced their price target on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Loop Capital downgraded shares of Etsy from a “hold” rating to a “sell” rating and reduced their price target for the company from $70.00 to $50.00 in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.96.

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 shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock valued at $4,836,827 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Up 1.2 %

NASDAQ:ETSY opened at $59.97 on Monday. The company has a market cap of $7.02 billion, a P/E ratio of 27.38, a P/E/G ratio of 4.22 and a beta of 2.00. Etsy, Inc. has a fifty-two week low of $56.60 and a fifty-two week high of $102.81. The firm’s 50 day moving average is $67.77 and its two-hundred day moving average is $71.55.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal 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.