Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 91.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,411 shares of the specialty retailer’s stock after selling 72,387 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Etsy were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Etsy by 183.9% in the 3rd quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after purchasing an additional 3,861,668 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer’s stock valued at $186,583,000 after purchasing an additional 522,111 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Etsy by 12.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer’s stock valued at $92,452,000 after purchasing an additional 188,386 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer’s stock valued at $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Etsy in the 3rd quarter valued at $55,530,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Stock Down 4.2 %

Shares of NASDAQ:ETSY opened at $49.05 on Tuesday. Etsy, Inc. has a fifty-two week low of $47.10 and a fifty-two week high of $73.48. The firm’s 50-day simple moving average is $53.77 and its 200-day simple moving average is $53.73. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.57 and a beta of 2.00.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ETSY shares. Moffett Nathanson raised their price objective on shares of Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Citigroup dropped their target price on shares of Etsy from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley dropped their target price on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Finally, UBS Group dropped their target price on shares of Etsy from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $58.78.

Insider Activity at Etsy

In related news, CEO Josh Silverman sold 21,666 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.