Greenleaf Trust decreased its stake in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,864 shares of the specialty retailer’s stock after selling 1,003 shares during the period. Greenleaf Trust’s holdings in Etsy were worth $463,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Clearbridge Investments LLC boosted its stake in Etsy by 69.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,314,633 shares of the specialty retailer’s stock worth $287,663,000 after purchasing an additional 950,415 shares during the period. Capital International Investors boosted its stake in Etsy by 56.1% during the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock worth $265,696,000 after purchasing an additional 768,350 shares during the period. Bares Capital Management Inc. boosted its stake in Etsy by 86.7% during the 3rd quarter. Bares Capital Management Inc. now owns 1,543,233 shares of the specialty retailer’s stock worth $154,524,000 after purchasing an additional 716,680 shares during the period. Macquarie Group Ltd. boosted its stake in Etsy by 66.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,334,489 shares of the specialty retailer’s stock worth $97,699,000 after purchasing an additional 530,793 shares during the period. Finally, Capital World Investors boosted its stake in Etsy by 13.4% during the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock worth $429,669,000 after purchasing an additional 409,540 shares during the period. Institutional investors and hedge funds own 95.46% of the company’s stock.
Etsy Price Performance
NASDAQ:ETSY opened at $104.06 on Friday. The firm has a 50 day simple moving average of $121.09 and a 200-day simple moving average of $117.80. The firm has a market cap of $12.97 billion, a PE ratio of -18.13, a P/E/G ratio of 6.08 and a beta of 1.99. Etsy, Inc. has a 1-year low of $67.01 and a 1-year high of $149.91.
Insider Activity at Etsy
In related news, CMO Ryan M. Scott sold 6,146 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $107.44, for a total value of $660,326.24. Following the completion of the sale, the chief marketing officer now directly owns 4,854 shares in the company, valued at $521,513.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CMO Ryan M. Scott sold 6,146 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $107.44, for a total value of $660,326.24. Following the completion of the sale, the chief marketing officer now directly owns 4,854 shares in the company, valued at $521,513.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $106.38, for a total transaction of $2,218,023.00. Following the completion of the sale, the chief executive officer now owns 107,305 shares of the company’s stock, valued at $11,415,105.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,668 shares of company stock worth $8,264,817. 3.10% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have recently commented on ETSY shares. UBS Group raised their target price on shares of Etsy from $124.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Jefferies Financial Group cut shares of Etsy from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $150.00 to $85.00 in a research note on Thursday, March 9th. DA Davidson raised their target price on shares of Etsy from $121.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. StockNews.com started coverage on shares of Etsy in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Piper Sandler upgraded shares of Etsy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $135.00 to $140.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.75.
Etsy Profile
Etsy, Inc engages in the operation of an online marketplace. It offers handmade products such as shoes, clothing, bags, and accessories. It operates through the following segments: Etsy, Reverb, Depop, and Elo7. The company was founded in 2005 and is headquartered in New York, NY.
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