Capital Group Investment Management PTE. LTD. Sells 9,310 Shares of Etsy, Inc. (NASDAQ:ETSY)

Capital Group Investment Management PTE. LTD. lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 75.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,972 shares of the specialty retailer’s stock after selling 9,310 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Etsy were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Polen Capital Management LLC grew its holdings in shares of Etsy by 83.3% during the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after acquiring an additional 15,598 shares during the period. MCF Advisors LLC lifted its position in Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after acquiring an additional 3,296 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of Etsy during the fourth quarter valued at approximately $267,000. TD Asset Management Inc boosted its position in shares of Etsy by 16.8% in the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after purchasing an additional 221,275 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after buying an additional 30,561 shares in the last quarter. 99.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ETSY shares. The Goldman Sachs Group dropped their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. B. Riley dropped their price target on shares of Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. BTIG Research reduced their price objective on shares of Etsy from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Finally, Barclays decreased their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Etsy has an average rating of “Hold” and a consensus target price of $80.00.

Etsy Trading Up 3.0 %

NASDAQ ETSY traded up $1.84 on Friday, hitting $62.27. 3,003,016 shares of the company traded hands, compared to its average volume of 3,583,892. The business’s 50 day moving average price is $61.10 and its 200-day moving average price is $66.35. Etsy, Inc. has a 52-week low of $55.08 and a 52-week high of $102.81. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 4.94 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $646.30 million. Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. Etsy’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. As a group, sell-side analysts predict that Etsy, Inc. will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now directly owns 592 shares in the company, valued at $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

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.