Pictet Asset Management SA trimmed its holdings in shares of Etsy, Inc. (NASDAQ:ETSY – Free Report) by 83.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,384 shares of the specialty retailer’s stock after selling 297,293 shares during the period. Pictet Asset Management SA’s holdings in Etsy were worth $6,500,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Etsy by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 13,703,486 shares of the specialty retailer’s stock valued at $1,703,069,000 after purchasing an additional 118,034 shares in the last quarter. Capital World Investors increased its holdings in Etsy by 13.4% during the 1st quarter. Capital World Investors now owns 3,457,269 shares of the specialty retailer’s stock valued at $429,669,000 after purchasing an additional 409,540 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Etsy by 10.2% during the 4th quarter. Clearbridge Investments LLC now owns 3,008,544 shares of the specialty retailer’s stock valued at $360,363,000 after purchasing an additional 277,650 shares in the last quarter. Geode Capital Management LLC increased its holdings in Etsy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,615,778 shares of the specialty retailer’s stock valued at $312,756,000 after purchasing an additional 50,060 shares in the last quarter. Finally, Capital International Investors increased its holdings in Etsy by 56.1% during the 1st quarter. Capital International Investors now owns 2,137,886 shares of the specialty retailer’s stock valued at $265,696,000 after purchasing an additional 768,350 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
Etsy Trading Down 0.5 %
ETSY stock opened at $73.08 on Thursday. The business’s 50-day moving average price is $87.62 and its two-hundred day moving average price is $99.34. The firm has a market cap of $8.99 billion, a PE ratio of -12.45, a P/E/G ratio of 3.73 and a beta of 2.00. Etsy, Inc. has a 1-year low of $72.40 and a 1-year high of $149.91.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on ETSY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Etsy in a report on Thursday, August 3rd. UBS Group lowered their target price on Etsy from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. Bank of America lowered their target price on Etsy from $123.00 to $110.00 in a research note on Friday, July 28th. Barclays lowered their target price on Etsy from $100.00 to $98.00 in a research note on Thursday, May 4th. Finally, Oppenheimer lowered their target price on Etsy from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $118.43.
Get Our Latest Research Report on Etsy
Insider Buying and Selling at Etsy
In other Etsy news, insider Nicholas Daniel sold 1,760 shares of Etsy stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the sale, the insider now owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Etsy news, insider Nicholas Daniel sold 1,760 shares of Etsy stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $101.65, for a total value of $178,904.00. Following the sale, the insider now owns 8,704 shares of the company’s stock, valued at approximately $884,761.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of Etsy stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $95.33, for a total value of $1,987,630.50. Following the completion of the sale, the chief executive officer now directly owns 14,674 shares in the company, valued at approximately $1,398,872.42. The disclosure for this sale can be found here. Insiders have sold 85,398 shares of company stock valued at $7,971,108 in the last 90 days. 2.60% of the stock is currently owned by company insiders.
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, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.
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