American International Group Inc. Sells 1,022 Shares of Etsy, Inc. (NASDAQ:ETSY)

American International Group Inc. cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,832 shares of the specialty retailer’s stock after selling 1,022 shares during the quarter. American International Group Inc.’s holdings in Etsy were worth $4,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ETSY. Arizona State Retirement System boosted its position in shares of Etsy by 0.5% in 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 during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Etsy by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock worth $354,000 after buying an additional 161 shares during the period. Truist Financial Corp grew its position in shares of Etsy by 2.7% during the 4th quarter. Truist Financial Corp now owns 6,367 shares of the specialty retailer’s stock worth $516,000 after buying an additional 168 shares during the period. D.A. Davidson & CO. increased its stake in shares of Etsy by 0.9% in the 4th quarter. D.A. Davidson & CO. now owns 19,580 shares of the specialty retailer’s stock valued at $1,587,000 after acquiring an additional 184 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Etsy by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 55,455 shares of the specialty retailer’s stock valued at $3,581,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

ETSY has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. B. Riley decreased their target price on Etsy from $91.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Finally, Wedbush reduced their price target on shares of Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.96.

Insider Buying and Selling

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were 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 of the company’s stock, valued at approximately $183,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $183,868.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 750 shares of Etsy 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 sale, the insider now directly 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. In the last 90 days, insiders sold 3,865 shares of company stock valued at $253,031. Company insiders own 2.60% of the company’s stock.

Etsy Stock Up 3.4 %

Shares of NASDAQ ETSY opened at $60.17 on Monday. Etsy, Inc. has a twelve month low of $56.60 and a twelve month high of $102.81. The business’s 50 day moving average price is $63.73 and its two-hundred day moving average price is $70.00. The company has a market cap of $7.04 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 4.74 and a beta of 1.99.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Etsy, Inc. will post 2.49 EPS for the current fiscal year.

About Etsy

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.