Thrivent Financial for Lutherans Sells 11,309 Shares of Etsy, Inc. (NASDAQ:ETSY)

Thrivent Financial for Lutherans cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,125 shares of the specialty retailer’s stock after selling 11,309 shares during the period. Thrivent Financial for Lutherans’ holdings in Etsy were worth $5,666,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Kestra Investment Management LLC bought a new position in Etsy during the fourth quarter valued at $38,000. Versant Capital Management Inc grew its stake in shares of Etsy by 153.1% in the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Etsy by 95.1% in the 4th quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after buying an additional 426 shares during the last quarter. Finally, Denver PWM LLC raised its position in shares of Etsy by 36.1% during the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Loop Capital decreased their price target on Etsy from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company raised their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Cantor Fitzgerald cut their price objective on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Jefferies Financial Group upgraded shares of Etsy from an “underperform” rating to a “hold” rating and raised their target price for the stock from $45.00 to $55.00 in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.42.

Insiders Place Their Bets

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares of the company’s stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the 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 of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by insiders.

Etsy Trading Up 1.7 %

Shares of NASDAQ:ETSY opened at $45.86 on Tuesday. The company has a market capitalization of $4.91 billion, a PE ratio of 19.35, a P/E/G ratio of 2.57 and a beta of 2.23. Etsy, Inc. has a 12-month low of $43.43 and a 12-month high of $71.72. The business’s fifty day simple moving average is $51.41 and its 200-day simple moving average is $52.79.

Etsy (NASDAQ:ETSY) last released its quarterly earnings results 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 business had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts predict that Etsy, Inc. will post 2.57 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.