Cambridge Investment Research Advisors Inc. Sells 2,294 Shares of Etsy, Inc. (NASDAQ:ETSY)

Cambridge Investment Research Advisors Inc. decreased its holdings in Etsy, Inc. (NASDAQ:ETSYFree Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,038 shares of the specialty retailer’s stock after selling 2,294 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Etsy were worth $1,381,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of Etsy by 26.5% in the 4th quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock valued at $374,207,000 after acquiring an additional 967,777 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in shares of Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after acquiring an additional 1,480,655 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Etsy by 3.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,524,871 shares of the specialty retailer’s stock valued at $98,476,000 after acquiring an additional 50,731 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after acquiring an additional 48,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Etsy by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,177,282 shares of the specialty retailer’s stock worth $95,419,000 after purchasing an additional 61,677 shares during the period. Institutional investors own 99.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. The Goldman Sachs Group reduced their price objective on shares of Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Guggenheim reduced their price objective on shares of Etsy from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Truist Financial reduced their price objective on shares of Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Evercore ISI reduced their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.96.

Read Our Latest Stock Report on ETSY

Insiders Place Their Bets

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

Etsy Price Performance

Etsy stock opened at $66.22 on Friday. Etsy, Inc. has a 1-year low of $56.60 and a 1-year high of $102.81. The business has a fifty day moving average price of $65.02 and a 200-day moving average price of $71.25. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 5.29 and a beta of 1.99.

Etsy (NASDAQ:ETSYGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $646.30 million. During the same period in the prior year, the business posted $0.53 EPS. Etsy’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Etsy, Inc. will post 2.49 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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