Acadian Asset Management LLC Sells 1,155,070 Shares of Etsy, Inc. $ETSY

Acadian Asset Management LLC lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 41.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,648,886 shares of the specialty retailer’s stock after selling 1,155,070 shares during the period. Acadian Asset Management LLC owned approximately 1.66% of Etsy worth $82,691,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ETSY. Campbell & CO Investment Adviser LLC acquired a new position in shares of Etsy in the 2nd quarter valued at $1,201,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Etsy by 24.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 886,500 shares of the specialty retailer’s stock worth $44,467,000 after buying an additional 175,046 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Etsy in the 2nd quarter valued at about $805,000. AGF Management Ltd. acquired a new stake in Etsy during the 2nd quarter worth $3,022,000. Finally, Summit Investment Advisors Inc. boosted its holdings in Etsy by 4.5% during the first quarter. Summit Investment Advisors Inc. now owns 28,533 shares of the specialty retailer’s stock worth $1,346,000 after buying an additional 1,223 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETSY. Arete upgraded shares of Etsy from a “sell” rating to a “neutral” rating and set a $54.00 price target for the company in a report on Thursday, August 7th. UBS Group boosted their price objective on shares of Etsy from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Stifel Nicolaus upped their target price on shares of Etsy from $45.00 to $66.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. Piper Sandler reissued a “neutral” rating on shares of Etsy in a research note on Wednesday, October 29th. Finally, Weiss Ratings upgraded Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus target price of $64.24.

Insider Activity at Etsy

In other news, insider Richard Edward Colburn III sold 3,200 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $57.80, for a total value of $184,960.00. Following the completion of the sale, the insider owned 4,387 shares of the company’s stock, valued at approximately $253,568.60. This represents a 42.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 11,827 shares of the business’s 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 SEC filing for this sale provides additional information. Insiders have sold 394,619 shares of company stock valued at $25,966,574 in the last quarter. Insiders own 2.80% of the company’s stock.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $59.24 on Monday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 10.65 and a beta of 1.87. The stock’s fifty day moving average price is $64.81 and its two-hundred day moving average price is $58.59. Etsy, Inc. has a one year low of $40.05 and a one year high of $76.51.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $655.83 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. On average, equities analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

About Etsy

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.