Bank of Nova Scotia Sells 14,814 Shares of Etsy, Inc. (NASDAQ:ETSY)

Bank of Nova Scotia decreased its holdings in shares of Etsy, Inc. (NASDAQ:ETSYFree Report) by 51.3% during the 4th quarter, Holdings Channel reports. The firm owned 14,051 shares of the specialty retailer’s stock after selling 14,814 shares during the quarter. Bank of Nova Scotia’s holdings in Etsy were worth $1,139,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ETSY. Bares Capital Management Inc. lifted its stake in Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after buying an additional 1,480,655 shares during the period. Norges Bank bought a new position in Etsy during the fourth quarter worth $86,494,000. Van ECK Associates Corp grew its holdings in Etsy by 26.5% in the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares during the period. TD Asset Management Inc increased its stake in Etsy by 260.2% in the fourth quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock valued at $106,920,000 after purchasing an additional 952,907 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Etsy by 107.4% during the third quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock valued at $45,866,000 after purchasing an additional 367,759 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETSY has been the subject of a number of research analyst reports. Oppenheimer decreased their target price on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Morgan Stanley decreased their price objective on Etsy from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Wedbush decreased their price target on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group dropped their price objective on shares of Etsy from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.96.

Get Our Latest Research Report on Etsy

Etsy Stock Down 1.4 %

ETSY opened at $65.28 on Friday. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The company’s 50-day moving average price is $64.97 and its two-hundred day moving average price is $71.22. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 5.28 and a beta of 1.99.

Etsy (NASDAQ:ETSYGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. Etsy’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.49 earnings per share for the current year.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on 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 directly owns 19,682 shares of the company’s stock, valued at $1,299,208.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $65.04, for a total value of $108,681.84. Following the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the sale, 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. Corporate insiders own 2.60% of the company’s stock.

Etsy Profile

(Free Report)

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.

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Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy, Inc. (NASDAQ:ETSYFree Report).

Institutional Ownership by Quarter for Etsy (NASDAQ:ETSY)

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