Envestnet Asset Management Inc. Sells 2,204 Shares of Etsy, Inc. (NASDAQ:ETSY)

Envestnet Asset Management Inc. decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 180,524 shares of the specialty retailer’s stock after selling 2,204 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Etsy were worth $10,647,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ETSY. Sunbelt Securities Inc. increased its stake in Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Etsy during the second quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in Etsy during the 1st quarter worth $59,000. Finally, Jones Financial Companies Lllp lifted its position in Etsy by 64.0% during the fourth quarter. Jones Financial Companies Lllp now owns 953 shares of the specialty retailer’s stock worth $77,000 after buying an additional 372 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ETSY shares. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Oppenheimer cut Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Finally, Truist Financial reissued a “buy” rating and set a $76.00 price objective on shares of Etsy in a research note on Tuesday. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Etsy currently has a consensus rating of “Hold” and an average price target of $70.61.

Etsy Stock Performance

Shares of ETSY opened at $55.75 on Friday. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 52 week low of $50.63 and a 52 week high of $89.58. The business’s fifty day moving average price is $55.97 and its two-hundred day moving average price is $61.13.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. As a group, research analysts forecast that Etsy, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 2,000 shares of company stock worth $116,395 in the last quarter. 2.60% of the stock is owned by company insiders.

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.