Nomura Asset Management Co. Ltd. Reduces Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Nomura Asset Management Co. Ltd. decreased its holdings in Etsy, Inc. (NASDAQ:ETSYFree Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,620 shares of the specialty retailer’s stock after selling 3,668 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Etsy were worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in Etsy in the fourth quarter worth $27,000. Operose Advisors LLC purchased a new position in Etsy during the third quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its position in Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares during the period. Tompkins Financial Corp purchased a new position in Etsy during the fourth quarter valued at $41,000. Finally, Principal Securities Inc. purchased a new position in Etsy during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Insiders Place Their Bets

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’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 transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Merilee Buckley sold 1,671 shares of Etsy stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total transaction of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at approximately $183,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the transaction, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY opened at $63.47 on Friday. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 4.95 and a beta of 2.00. The stock’s 50-day simple moving average is $65.20 and its two-hundred day simple moving average is $71.36. Etsy, Inc. has a 52-week low of $56.60 and a 52-week high of $102.81.

Etsy (NASDAQ:ETSYGet Free Report) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million during 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 company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. As a group, equities analysts forecast that Etsy, Inc. will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on ETSY shares. Truist Financial lowered their price objective on Etsy from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Oppenheimer lowered their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Wells Fargo & Company lowered their price objective on Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Finally, Guggenheim reduced their price target on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.96.

Get Our Latest Report on Etsy

Etsy Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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