Cwm LLC Reduces Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Cwm LLC trimmed its holdings in Etsy, Inc. (NASDAQ:ETSY) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,324 shares of the specialty retailer’s stock after selling 2,579 shares during the period. Cwm LLC’s holdings in Etsy were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Miracle Mile Advisors LLC bought a new stake in shares of Etsy during the 3rd quarter valued at $279,000. Diversified Trust Co grew its holdings in Etsy by 58.8% during the 3rd quarter. Diversified Trust Co now owns 10,257 shares of the specialty retailer’s stock valued at $570,000 after buying an additional 3,798 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Etsy during the second quarter valued at about $967,000. Clearline Capital LP lifted its holdings in shares of Etsy by 73.0% in the second quarter. Clearline Capital LP now owns 415,943 shares of the specialty retailer’s stock worth $24,532,000 after buying an additional 175,522 shares in the last quarter. Finally, Scientech Research LLC bought a new position in shares of Etsy in the second quarter valued at approximately $241,000. Institutional investors own 99.53% of the company’s stock.

Etsy Stock Up 2.4 %

NASDAQ ETSY opened at $52.53 on Thursday. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 4.99 and a beta of 1.97. The company has a 50-day simple moving average of $53.60 and a two-hundred day simple moving average of $59.49. Etsy, Inc. has a 12-month low of $48.07 and a 12-month high of $89.58.

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 company had revenue of $647.80 million for the quarter, compared to the consensus estimate of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. Etsy’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. Equities analysts expect that Etsy, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In related news, insider Toni Thompson Nadal sold 1,443 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $73,751.73. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $30,257.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total transaction of $85,660.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,443 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $51.11, for a total value of $73,751.73. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $30,257.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,619 shares of company stock worth $300,670. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ETSY shares. UBS Group decreased their target price on shares of Etsy from $65.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday. Stifel Nicolaus decreased their price target on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Loop Capital lowered their price objective on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research report on Monday, August 12th. Piper Sandler restated a “neutral” rating and set a $56.00 target price on shares of Etsy in a research report on Friday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Etsy currently has a consensus rating of “Hold” and an average target price of $69.36.

Etsy 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.