Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc reduced its position in Etsy, Inc. (NASDAQ:ETSY) by 50.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,000 shares of the specialty retailer’s stock after selling 20,007 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Etsy were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ETSY. Accretive Wealth Partners LLC raised its stake in shares of Etsy by 3.8% during the 4th quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after buying an additional 226 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Etsy by 48.9% during the fourth quarter. Corient Private Wealth LLC now owns 12,568 shares of the specialty retailer’s stock worth $1,019,000 after buying an additional 4,126 shares in the last quarter. Intech Investment Management LLC purchased a new position in Etsy in the fourth quarter valued at about $313,000. Treasurer of the State of North Carolina grew its holdings in Etsy by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 55,945 shares of the specialty retailer’s stock valued at $4,534,000 after purchasing an additional 490 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new position in shares of Etsy in the fourth quarter valued at $912,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ETSY shares. Stifel Nicolaus lowered their target price on Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Loop Capital dropped their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Wedbush reiterated a “neutral” rating and issued a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Finally, Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Etsy has a consensus rating of “Hold” and a consensus target price of $70.61.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 2,000 shares of company stock valued at $116,395. 2.60% of the stock is owned by insiders.

Etsy Stock Up 2.5 %

Shares of ETSY opened at $57.14 on Friday. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 5.39 and a beta of 1.97. The company’s fifty day moving average is $55.85 and its 200-day moving average is $61.02. Etsy, Inc. has a 12 month low of $50.63 and a 12 month high of $89.58.

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

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.