Thrivent Financial for Lutherans Sells 1,374 Shares of Etsy, Inc. (NASDAQ:ETSY)

Thrivent Financial for Lutherans cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,038 shares of the specialty retailer’s stock after selling 1,374 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Etsy were worth $1,948,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC increased its position in shares of Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the last quarter. TD Asset Management Inc increased its position in shares of Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock valued at $105,861,000 after purchasing an additional 221,275 shares during the last quarter. Diversified Trust Co increased its position in shares of Etsy by 11.5% during the 2nd quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock valued at $381,000 after purchasing an additional 668 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Etsy by 12.6% during the 1st quarter. Advisors Asset Management Inc. now owns 146,865 shares of the specialty retailer’s stock valued at $10,093,000 after purchasing an additional 16,458 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Etsy by 184.3% during the 1st quarter. SG Americas Securities LLC now owns 56,107 shares of the specialty retailer’s stock valued at $3,856,000 after purchasing an additional 36,372 shares during the last quarter. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETSY has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Wedbush restated a “neutral” rating and set a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Loop Capital dropped their target price on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a report on Monday, August 12th. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and set a $76.00 target price on shares of Etsy in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.61.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the transaction, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 2,000 shares of company stock valued at $116,395 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Down 5.8 %

ETSY opened at $52.30 on Wednesday. Etsy, Inc. has a 52 week low of $50.63 and a 52 week high of $89.58. The stock has a market cap of $6.12 billion, a PE ratio of 23.88, a PEG ratio of 5.39 and a beta of 1.97. The business has a 50 day moving average of $55.72 and a 200-day moving average of $60.80.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. During the same period last year, the business earned $0.83 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Etsy, Inc. will post 2.38 EPS for the current year.

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.