Etsy, Inc. (NASDAQ:ETSY) Stake Lowered by Toronto Dominion Bank

Posted by on May 8th, 2023

Toronto Dominion Bank cut its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,127 shares of the specialty retailer’s stock after selling 16,109 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Etsy worth $7,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. General Partner Inc. acquired a new position in shares of Etsy during the fourth quarter worth approximately $29,000. GoalVest Advisory LLC acquired a new stake in Etsy in the fourth quarter worth approximately $30,000. Whittier Trust Co. lifted its position in Etsy by 888.9% in the fourth quarter. Whittier Trust Co. now owns 267 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 240 shares during the period. Trustcore Financial Services LLC lifted its position in Etsy by 166.3% in the third quarter. Trustcore Financial Services LLC now owns 269 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 168 shares during the period. Finally, Guardian Wealth Advisors LLC acquired a new stake in Etsy in the third quarter worth approximately $36,000. 95.46% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 2.8 %

NASDAQ ETSY opened at $90.00 on Monday. Etsy, Inc. has a 1-year low of $67.01 and a 1-year high of $149.91. The firm’s fifty day simple moving average is $106.00 and its 200-day simple moving average is $117.63.

Etsy (NASDAQ:ETSY – Get Rating) last posted its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $640.90 million for the quarter, compared to the consensus estimate of $620.92 million. Etsy had a negative net margin of 26.86% and a negative return on equity of 118.74%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts anticipate that Etsy, Inc. will post 2.39 earnings per share for the current year.

Insider Buying and Selling at Etsy

In other Etsy news, CMO Ryan M. Scott sold 6,146 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $107.44, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy news, CMO Ryan M. Scott sold 6,146 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $107.44, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 20,850 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $99.66, for a total transaction of $2,077,911.00. Following the completion of the sale, the chief executive officer now owns 114,674 shares of the company’s stock, valued at approximately $11,428,410.84. The disclosure for this sale can be found here. Insiders sold 89,518 shares of company stock worth $9,656,482 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ETSY shares. StockNews.com started coverage on Etsy in a research report on Thursday, March 16th. They issued a “hold” rating for the company. TheStreet upgraded Etsy from a “d” rating to a “c-” rating in a research report on Wednesday, February 22nd. Loop Capital cut their target price on Etsy from $125.00 to $105.00 in a research report on Thursday. Evercore ISI cut their target price on Etsy from $140.00 to $120.00 in a research report on Thursday. Finally, Raymond James cut their price objective on Etsy from $155.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.04.

Etsy Company Profile

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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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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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