Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 59.7% during the fourth quarter, Holdings Channel reports. The fund owned 8,439 shares of the specialty retailer’s stock after selling 12,526 shares during the quarter. Corient Private Wealth LLC’s holdings in Etsy were worth $446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its holdings in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its position in Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer’s stock worth $144,000 after acquiring an additional 218 shares during the last quarter. Denver PWM LLC grew its stake in Etsy by 36.1% in the 4th quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 289 shares during the period. Gagnon Securities LLC raised its holdings in Etsy by 7.9% in the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock valued at $272,000 after acquiring an additional 376 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Etsy by 7.3% during the 4th quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer’s stock worth $318,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETSY shares. Citigroup lowered their price objective on Etsy from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Loop Capital lowered their price target on Etsy from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company upped their price objective on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Stifel Nicolaus reduced their target price on Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, Jefferies Financial Group upgraded Etsy from an “underperform” rating to a “hold” rating and upped their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and an average price target of $58.42.

Insider Activity

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on 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 directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Etsy Stock Down 0.5 %

ETSY stock opened at $46.69 on Friday. The stock’s 50 day moving average is $50.93 and its two-hundred day moving average is $52.63. Etsy, Inc. has a 52-week low of $43.43 and a 52-week high of $71.72. The company has a market capitalization of $5.00 billion, a PE ratio of 19.70, a P/E/G ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

About Etsy

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.