Modera Wealth Management LLC Sells 555 Shares of Etsy, Inc. (NASDAQ:ETSY)

Modera Wealth Management LLC cut its holdings in Etsy, Inc. (NASDAQ:ETSY) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,388 shares of the specialty retailer’s stock after selling 555 shares during the period. Modera Wealth Management LLC’s holdings in Etsy were worth $521,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP raised its position in shares of Etsy by 304.2% during the 2nd quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares during the period. Renaissance Technologies LLC raised its position in shares of Etsy by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after purchasing an additional 734,200 shares during the period. Van ECK Associates Corp raised its position in shares of Etsy by 14.3% during the 2nd quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after purchasing an additional 721,454 shares during the period. Pacer Advisors Inc. raised its position in shares of Etsy by 52.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after purchasing an additional 721,453 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Etsy by 76.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock valued at $69,685,000 after purchasing an additional 517,480 shares during the period. 99.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated 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 transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction dated 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 owns 592 shares in the company, valued at $30,257.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total transaction of $85,660.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,619 shares of company stock valued at $300,670. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ETSY. Truist Financial restated a “buy” rating and set a $76.00 price objective on shares of Etsy in a research report on Tuesday, September 24th. Wolfe Research started coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Raymond James reduced their price target on shares of Etsy from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price target on shares of Etsy in a report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.48.

Etsy Trading Up 0.3 %

ETSY stock opened at $48.77 on Tuesday. Etsy, Inc. has a 12 month low of $48.07 and a 12 month high of $89.58. The company has a 50-day moving average price of $52.97 and a 200 day moving average price of $58.51. The stock has a market cap of $5.70 billion, a PE ratio of 22.27, a P/E/G ratio of 4.85 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 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 firm had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. During the same period in the prior year, the firm posted $0.83 earnings per share. Etsy’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Etsy, Inc. will post 2.38 EPS for the current 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.