XTX Topco Ltd Cuts Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

XTX Topco Ltd decreased its position in Etsy, Inc. (NASDAQ:ETSY) by 27.1% in the second quarter, Holdings Channel reports. The institutional investor owned 8,627 shares of the specialty retailer’s stock after selling 3,209 shares during the period. XTX Topco Ltd’s holdings in Etsy were worth $509,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its stake in shares of Etsy by 3,900.0% during the first quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 429 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Etsy by 402.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 358 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Etsy by 1,576.5% in the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 536 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Etsy in the second quarter worth about $42,000. Finally, Headlands Technologies LLC acquired a new position in Etsy during the first quarter worth $59,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETSY has been the subject of a number of recent research reports. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Wolfe Research started coverage on shares of Etsy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Loop Capital decreased their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.61.

Insider Activity at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the sale, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,000 shares of company stock valued at $116,395 over the last quarter. 2.60% of the stock is owned by insiders.

Etsy Stock Performance

Shares of ETSY opened at $55.02 on Wednesday. Etsy, Inc. has a 1 year low of $50.63 and a 1 year high of $89.58. The stock has a market capitalization of $6.43 billion, a PE ratio of 25.12, a PEG ratio of 5.10 and a beta of 1.97. The stock has a 50-day simple moving average of $56.33 and a 200-day simple moving average of $61.21.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $629.87 million. During the same quarter last year, the firm earned $0.83 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Analysts predict 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.