IFP Advisors Inc Sells 713 Shares of Etsy, Inc. (NASDAQ:ETSY)

IFP Advisors Inc lessened its position in shares of Etsy, Inc. (NASDAQ:ETSY – Get Rating) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,285 shares of the specialty retailer’s stock after selling 713 shares during the period. IFP Advisors Inc’s holdings in Etsy were worth $157,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its holdings in shares of Etsy by 499.2% in the 4th quarter. Handelsbanken Fonder AB now owns 196,675 shares of the specialty retailer’s stock valued at $23,558,000 after acquiring an additional 163,851 shares in the last quarter. TD Asset Management Inc grew its holdings in Etsy by 9.9% during the fourth quarter. TD Asset Management Inc now owns 90,497 shares of the specialty retailer’s stock worth $10,840,000 after purchasing an additional 8,163 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Etsy by 11.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,466 shares of the specialty retailer’s stock worth $9,819,000 after purchasing an additional 8,772 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Etsy by 587.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 265,363 shares of the specialty retailer’s stock worth $31,785,000 after purchasing an additional 226,767 shares during the period. Finally, Westpac Banking Corp grew its holdings in Etsy by 6.3% during the fourth quarter. Westpac Banking Corp now owns 11,531 shares of the specialty retailer’s stock worth $1,381,000 after purchasing an additional 682 shares during the period. Institutional investors own 95.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wolfe Research restated a “peer perform” rating on shares of Etsy in a report on Thursday, February 23rd. Raymond James dropped their price target on shares of Etsy from $155.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Etsy in a research report on Wednesday, April 19th. Bank of America lifted their price target on shares of Etsy from $145.00 to $153.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Finally, TheStreet upgraded shares of Etsy from a “d” rating to a “c-” rating in a research report on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Etsy currently has a consensus rating of “Moderate Buy” and an average target price of $129.04.

Insider Activity

In other news, CFO Rachel C. Glaser sold 19,822 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $125.54, for a total transaction of $2,488,453.88. Following the completion of the transaction, the chief financial officer now directly owns 49,143 shares of the company’s stock, valued at approximately $6,169,412.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Etsy news, CFO Rachel C. Glaser sold 19,822 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $125.54, for a total value of $2,488,453.88. Following the completion of the transaction, the chief financial officer now directly owns 49,143 shares of the company’s stock, valued at approximately $6,169,412.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 20,850 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 107,305 shares of the company’s stock, valued at $11,415,105.90. The disclosure for this sale can be found here. Insiders sold 110,368 shares of company stock valued at $11,627,641 in the last three months. Company insiders own 3.10% of the company’s stock.

Etsy Price Performance

ETSY opened at $94.68 on Friday. Etsy, Inc. has a fifty-two week low of $67.01 and a fifty-two week high of $149.91. The firm has a market capitalization of $11.68 billion, a PE ratio of -16.30, a P/E/G ratio of 5.32 and a beta of 1.99. The company’s 50-day moving average is $103.43 and its 200 day moving average is $117.18.

Etsy (NASDAQ:ETSY – Get Rating) last released its earnings results on Wednesday, May 3rd. The specialty retailer reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $640.90 million during the quarter, compared to the consensus estimate of $620.92 million. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that Etsy, Inc. will post 2.39 EPS for the current year.

About Etsy

(Get Rating)

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.