Cambridge Investment Research Advisors Inc. lowered its stake in Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,360 shares of the specialty retailer’s stock after selling 2,674 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Etsy were worth $2,798,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trustcore Financial Services LLC increased its stake in shares of 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 acquiring an additional 168 shares during the period. General Partner Inc. acquired a new stake in shares of Etsy in the fourth quarter worth $29,000. GoalVest Advisory LLC acquired a new stake in shares of Etsy in the fourth quarter worth $30,000. Whittier Trust Co. increased its stake in shares of 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 acquiring an additional 240 shares during the period. Finally, Guardian Wealth Advisors LLC acquired a new stake in shares of Etsy in the third quarter worth $36,000. Institutional investors and hedge funds own 95.46% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on ETSY shares. Truist Financial dropped their target price on shares of Etsy from $125.00 to $120.00 in a research report on Thursday, May 4th. Jefferies Financial Group downgraded shares of Etsy from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $150.00 to $85.00 in a research note on Thursday, March 9th. Bank of America lifted their target price on shares of Etsy from $145.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Etsy in a research note on Thursday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of Etsy in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Etsy presently has an average rating of “Moderate Buy” and a consensus target price of $129.04.
Etsy Stock Performance
Etsy (NASDAQ:ETSY – Get Rating) last posted its quarterly 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. Etsy had a negative net margin of 26.86% and a negative return on equity of 118.74%. The company had revenue of $640.90 million during the quarter, compared to analysts’ expectations of $620.92 million. During the same quarter in the previous year, the business posted $0.60 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Etsy, Inc. will post 2.39 EPS for the current fiscal year.
Insiders Place Their Bets
In other Etsy news, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $94.54, for a total transaction of $1,971,159.00. Following the completion of the transaction, the chief executive officer now owns 114,674 shares in the company, valued at approximately $10,841,279.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Nicholas Daniel sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $102.79, for a total transaction of $102,790.00. Following the completion of the sale, the insider now owns 8,704 shares in the company, valued at approximately $894,684.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 20,850 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $94.54, for a total transaction of $1,971,159.00. Following the sale, the chief executive officer now owns 114,674 shares of the company’s stock, valued at approximately $10,841,279.96. The disclosure for this sale can be found here. Insiders sold 110,368 shares of company stock worth $11,627,641 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.
Etsy Company 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.
Further Reading
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