Envestnet Asset Management Inc. Has $2.99 Million Position in Etsy, Inc. $ETSY

Envestnet Asset Management Inc. cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,519 shares of the specialty retailer’s stock after selling 5,173 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Etsy worth $2,985,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ETSY. Signaturefd LLC boosted its position in shares of Etsy by 52.7% in the 2nd quarter. Signaturefd LLC now owns 556 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 192 shares during the last quarter. Allworth Financial LP boosted its holdings in Etsy by 47.6% during 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 during the last quarter. SVB Wealth LLC bought a new position in Etsy during the first quarter worth about $36,000. Brooklyn Investment Group grew its position in shares of Etsy by 842.2% during the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer’s stock worth $37,000 after buying an additional 699 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Etsy by 18.7% in the 2nd quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In related news, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $62.82, for a total value of $908,628.48. Following the sale, the director owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $72.50, for a total value of $10,875,000.00. Following the completion of the sale, the chief executive officer owned 62,674 shares in the company, valued at $4,543,865. The trade was a 70.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 394,169 shares of company stock valued at $25,936,217 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ETSY has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Etsy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. UBS Group increased their target price on shares of Etsy from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Etsy in a report on Thursday, September 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $64.00 price objective on shares of Etsy in a research report on Thursday, October 30th. Finally, Bank of America lifted their target price on Etsy from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.24.

Etsy Stock Down 2.4%

Shares of NASDAQ:ETSY opened at $57.09 on Friday. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 10.65 and a beta of 1.87. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $76.51. The company’s fifty day simple moving average is $65.62 and its 200 day simple moving average is $59.02.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, October 29th. The specialty retailer reported $0.63 earnings per share 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 firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $655.83 million. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal 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.