Advisory Services Network LLC Reduces Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Advisory Services Network LLC trimmed its position in Etsy, Inc. (NASDAQ:ETSYGet Rating) by 26.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,548 shares of the specialty retailer’s stock after selling 5,170 shares during the period. Advisory Services Network LLC’s holdings in Etsy were worth $1,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ETSY. Rinkey Investments purchased a new position in shares of Etsy during the 4th quarter valued at about $26,000. American National Bank lifted its position in shares of Etsy by 71.3% during the 1st quarter. American National Bank now owns 209 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Covestor Ltd purchased a new position in shares of Etsy during the 4th quarter valued at about $29,000. Institutional & Family Asset Management LLC lifted its position in shares of Etsy by 125.7% during the 1st quarter. Institutional & Family Asset Management LLC now owns 246 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Finally, Tcwp LLC purchased a new position in shares of Etsy during the 1st quarter valued at about $34,000. 98.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Etsy news, CFO Rachel C. Glaser sold 3,040 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $112.16, for a total value of $340,966.40. Following the sale, the chief financial officer now owns 42,709 shares in the company, valued at $4,790,241.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Etsy news, CMO Ryan M. Scott sold 712 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total value of $71,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rachel C. Glaser sold 3,040 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $112.16, for a total value of $340,966.40. Following the completion of the sale, the chief financial officer now owns 42,709 shares in the company, valued at approximately $4,790,241.44. The disclosure for this sale can be found here. Insiders have sold a total of 138,210 shares of company stock worth $13,507,640 over the last quarter. Company insiders own 3.10% of the company’s stock.

Etsy Stock Performance

NASDAQ:ETSY opened at $108.03 on Monday. The stock’s fifty day moving average is $103.93 and its 200 day moving average is $102.33. Etsy, Inc. has a fifty-two week low of $67.01 and a fifty-two week high of $307.75. The firm has a market capitalization of $13.68 billion, a PE ratio of 38.04, a PEG ratio of 5.04 and a beta of 1.86. The company has a debt-to-equity ratio of 4.10, a quick ratio of 2.93 and a current ratio of 2.93.

Etsy (NASDAQ:ETSYGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. Etsy had a return on equity of 67.88% and a net margin of 17.01%. The company had revenue of $585.20 million for the quarter, compared to analyst estimates of $556.85 million. During the same quarter in the prior year, the firm posted $0.68 EPS. Etsy’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETSY. KeyCorp began coverage on Etsy in a report on Wednesday, July 20th. They issued a “sector weight” rating on the stock. Piper Sandler began coverage on Etsy in a research note on Wednesday, August 3rd. They issued a “neutral” rating and a $95.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Etsy from $100.00 to $90.00 in a research note on Thursday, July 21st. JMP Securities restated a “mkt outperform” rating and issued a $125.00 price target on shares of Etsy in a research note on Wednesday, June 1st. Finally, DA Davidson dropped their price target on Etsy from $185.00 to $146.00 in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and an average price target of $129.35.

About Etsy

(Get Rating)

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily 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. 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.

Further Reading

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Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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