Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its position in Etsy, Inc. (NASDAQ:ETSY) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,209 shares of the specialty retailer’s stock after selling 19,210 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Etsy were worth $1,476,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bares Capital Management Inc. raised its stake in Etsy by 57.8% in the 3rd quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after purchasing an additional 1,480,655 shares during the last quarter. Van ECK Associates Corp raised its stake in Etsy by 40.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock valued at $235,666,000 after purchasing an additional 1,047,811 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Etsy by 3.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,524,871 shares of the specialty retailer’s stock valued at $98,476,000 after purchasing an additional 50,731 shares during the last quarter. Northern Trust Corp raised its stake in Etsy by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after purchasing an additional 48,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Etsy by 46.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock valued at $72,046,000 after purchasing an additional 352,255 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total value of $49,507.50. Following the completion of the transaction, the insider now owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the completion of the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,968 shares of company stock worth $4,836,827. Company insiders own 2.60% of the company’s stock.

Etsy Trading Up 2.9 %

ETSY opened at $68.35 on Wednesday. The stock’s 50-day moving average price is $69.30 and its 200 day moving average price is $71.53. Etsy, Inc. has a 12-month low of $58.20 and a 12-month high of $103.25. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.64 and a beta of 2.01.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $842.32 million for the quarter, compared to analyst estimates of $827.40 million. Etsy had a negative return on equity of 70.75% and a net margin of 11.19%. On average, research analysts forecast that Etsy, Inc. will post 2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ETSY has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Etsy in a research note on Friday, March 1st. The Goldman Sachs Group cut Etsy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $84.00 to $80.00 in a report on Wednesday, January 10th. UBS Group dropped their target price on Etsy from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Truist Financial dropped their target price on Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, Evercore ISI dropped their target price on Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus price target of $84.88.

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.