Vanguard Group Inc. Has $1.09 Billion Holdings in Etsy, Inc. (NASDAQ:ETSY)

Vanguard Group Inc. trimmed its holdings in Etsy, Inc. (NASDAQ:ETSY) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,436,836 shares of the specialty retailer’s stock after selling 272,391 shares during the period. Vanguard Group Inc. owned 11.34% of Etsy worth $1,089,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CVA Family Office LLC acquired a new stake in Etsy during the 4th quarter valued at $27,000. Operose Advisors LLC acquired a new stake in shares of Etsy during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the period. Tompkins Financial Corp acquired a new position in Etsy in the 4th quarter valued at about $41,000. Finally, Principal Securities Inc. bought a new position in Etsy in the 4th quarter valued at about $47,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price on Etsy from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. BTIG Research decreased their price objective on Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Canaccord Genuity Group dropped their target price on Etsy from $125.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Evercore ISI decreased their price target on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Etsy from $60.00 to $58.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Four investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.96.

Insiders Place Their Bets

In other news, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction on Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the transaction, the insider now owns 592 shares in the company, valued at $38,882.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the transaction, the insider now directly owns 19,682 shares in the company, valued at $1,299,208.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $38,882.56. The disclosure for this sale can be found here. Insiders have sold 3,865 shares of company stock valued at $253,031 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Etsy Stock Performance

Shares of ETSY opened at $58.20 on Friday. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 4.70 and a beta of 1.99. Etsy, Inc. has a 52 week low of $56.60 and a 52 week high of $102.81. The stock has a fifty day moving average of $63.87 and a 200-day moving average of $70.31.

Etsy (NASDAQ:ETSY) last announced its quarterly 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). Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Etsy, Inc. will post 2.49 EPS for the current year.

Etsy 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.