Sumitomo Mitsui Trust Holdings Inc. Sells 21,387 Shares of Etsy, Inc. (NASDAQ:ETSY)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Etsy, Inc. (NASDAQ:ETSY) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 365,242 shares of the specialty retailer’s stock after selling 21,387 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Etsy worth $29,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP grew its stake in Etsy by 121.7% during the first quarter. Quarry LP now owns 266 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 146 shares during the period. KB Financial Partners LLC grew its holdings in Etsy by 41.7% in the first quarter. KB Financial Partners LLC now owns 520 shares of the specialty retailer’s stock worth $65,000 after purchasing an additional 153 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in Etsy by 7.3% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,256 shares of the specialty retailer’s stock valued at $280,000 after purchasing an additional 153 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Etsy by 0.5% during the 4th quarter. Arizona State Retirement System now owns 33,810 shares of the specialty retailer’s stock worth $2,740,000 after purchasing an additional 157 shares in the last quarter. Finally, Snowden Capital Advisors LLC grew its stake in shares of Etsy by 2.0% in the 1st quarter. Snowden Capital Advisors LLC now owns 8,761 shares of the specialty retailer’s stock valued at $975,000 after buying an additional 171 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In related news, CEO Josh Silverman sold 63,047 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Josh Silverman sold 63,047 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares of the company’s stock, valued at approximately $1,299,208.82. The disclosure for this sale can be found here. Insiders sold 66,968 shares of company stock worth $4,836,827 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Etsy Trading Down 0.9 %

Shares of NASDAQ ETSY opened at $66.76 on Monday. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 4.66 and a beta of 2.01. The stock has a fifty day simple moving average of $69.67 and a two-hundred day simple moving average of $71.46. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $104.93.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. The company had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Analysts forecast that Etsy, Inc. will post 2.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ETSY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Etsy in a research note on Friday, March 1st. Morgan Stanley restated an “underweight” rating and set a $55.00 price target (down previously from $65.00) on shares of Etsy in a research note on Thursday. Wedbush dropped their price objective on shares of Etsy from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. UBS Group decreased their target price on shares of Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group cut shares of Etsy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.88.

Etsy Company 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, and France. 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.