Independent Advisor Alliance Sells 221 Shares of Etsy, Inc. (NASDAQ:ETSY)

Independent Advisor Alliance trimmed its holdings in Etsy, Inc. (NASDAQ:ETSY) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,785 shares of the specialty retailer’s stock after selling 221 shares during the quarter. Independent Advisor Alliance’s holdings in Etsy were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETSY. CVA Family Office LLC acquired a new position in Etsy during the 4th quarter worth approximately $27,000. Operose Advisors LLC bought a new stake in Etsy during the 3rd quarter worth approximately $28,000. Tompkins Financial Corp bought a new stake in Etsy during the 4th quarter worth approximately $41,000. Principal Securities Inc. bought a new stake in Etsy during the 4th quarter worth approximately $47,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Etsy during the 4th quarter worth approximately $49,000. 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. Needham & Company LLC decreased their price objective on Etsy from $95.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Oppenheimer decreased their price objective on Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler upped their target price on Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, JMP Securities lowered Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus target price of $79.96.

Etsy Stock Performance

Shares of ETSY stock opened at $64.18 on Wednesday. Etsy, Inc. has a 52-week low of $56.60 and a 52-week high of $102.81. The company has a market capitalization of $7.50 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 5.25 and a beta of 2.00. The business’s fifty day moving average is $66.04 and its 200 day moving average is $71.57.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $646.30 million. During the same quarter last year, the business posted $0.53 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Etsy, Inc. will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total transaction of $107,730.00. Following the sale, the insider now owns 13,138 shares in the company, valued at $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Josh Silverman sold 63,047 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total value of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares in the company, valued at $1,677,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the transaction, the insider now owns 13,138 shares in the company, valued at approximately $943,571.16. The disclosure for this sale can be found here. Insiders have sold 66,968 shares of company stock worth $4,836,827 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.