World Investment Advisors Reduces Stock Position in Etsy, Inc. $ETSY

World Investment Advisors reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 21.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,432 shares of the specialty retailer’s stock after selling 1,489 shares during the period. World Investment Advisors’ holdings in Etsy were worth $272,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its stake in Etsy by 52.7% in the second quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after buying an additional 192 shares in the last quarter. Allworth Financial LP raised its stake in Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer’s stock worth $35,000 after buying an additional 248 shares in the last quarter. SVB Wealth LLC bought a new position in Etsy in the first quarter worth about $36,000. Brooklyn Investment Group raised its stake in Etsy by 842.2% in the first quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock worth $37,000 after buying an additional 699 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Etsy by 18.7% in the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock worth $58,000 after buying an additional 181 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Arete raised shares of Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Thursday, August 7th. Bank of America raised their target price on shares of Etsy from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Piper Sandler reaffirmed a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Jefferies Financial Group raised their target price on shares of Etsy from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Finally, Evercore ISI downgraded shares of Etsy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Etsy has a consensus rating of “Hold” and an average price target of $64.24.

Insider Buying and Selling at Etsy

In related news, insider Goyal Kruti Patel sold 11,944 shares of Etsy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $59.31, for a total transaction of $708,398.64. Following the transaction, the insider owned 47,529 shares in the company, valued at approximately $2,818,944.99. The trade was a 20.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 11,827 shares of Etsy stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $61.47, for a total transaction of $727,005.69. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 400,268 shares of company stock worth $26,311,091. 2.80% of the stock is owned by insiders.

Etsy Stock Down 4.3%

Shares of ETSY opened at $58.46 on Wednesday. The company has a market capitalization of $5.77 billion, a P/E ratio of 47.15, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. The firm has a 50 day moving average of $64.52 and a 200 day moving average of $58.31. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $76.51.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Etsy Company 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.