Signaturefd LLC Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

Signaturefd LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 28.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 817 shares of the specialty retailer’s stock after selling 319 shares during the period. Signaturefd LLC’s holdings in Etsy were worth $48,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 358 shares during the period. Larson Financial Group LLC raised its position in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Etsy during the second quarter valued at approximately $42,000. Finally, Principal Securities Inc. acquired a new position in Etsy in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Etsy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a report on Friday, August 23rd. Oppenheimer downgraded shares of Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Truist Financial cut their price target on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Evercore ISI upgraded Etsy to a “strong-buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.55.

Etsy Stock Performance

Shares of Etsy stock opened at $55.57 on Thursday. The business’s 50 day moving average price is $57.74 and its 200 day moving average price is $63.05. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 5.44 and a beta of 2.02. Etsy, Inc. has a one year low of $51.45 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Etsy, Inc. will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares of the company’s stock, valued at $1,125,083.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $38,882.56. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock valued at $169,687 over the last ninety days. Company insiders own 2.60% of the company’s stock.

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.