Quest Partners LLC Sells 4,424 Shares of Etsy, Inc. (NASDAQ:ETSY)

Quest Partners LLC cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 64.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,440 shares of the specialty retailer’s stock after selling 4,424 shares during the quarter. Quest Partners LLC’s holdings in Etsy were worth $144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its stake in Etsy by 3,900.0% in 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 during the period. EverSource Wealth Advisors LLC lifted its holdings in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 358 shares in the last quarter. Larson Financial Group LLC boosted its position in Etsy by 1,576.5% in the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 536 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Etsy during the second quarter worth approximately $42,000. Finally, Principal Securities Inc. bought a new stake in shares of Etsy during the fourth quarter valued at approximately $47,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Etsy Trading Down 3.2 %

ETSY opened at $53.88 on Tuesday. Etsy, Inc. has a 12-month low of $50.63 and a 12-month high of $89.58. The firm has a 50 day moving average of $57.04 and a two-hundred day moving average of $61.97. The firm has a market capitalization of $6.18 billion, a PE ratio of 24.60, a P/E/G ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS. As a group, analysts predict that Etsy, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,000 shares of company stock valued at $116,395 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ETSY shares. Wedbush reissued a “neutral” rating and issued a $65.00 price objective on shares of Etsy in a research note on Monday, July 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research note on Friday, August 23rd. Loop Capital dropped 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 reduced 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, Stifel Nicolaus dropped their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.61.

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.