Primecap Management Co. CA Has $4.84 Million Stake in Etsy, Inc. (NASDAQ:ETSY)

Primecap Management Co. CA lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 29.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,000 shares of the specialty retailer’s stock after selling 34,000 shares during the quarter. Primecap Management Co. CA owned about 0.07% of Etsy worth $4,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ETSY. Accretive Wealth Partners LLC increased its position in shares of Etsy by 3.8% in the fourth quarter. Accretive Wealth Partners LLC now owns 6,232 shares of the specialty retailer’s stock worth $505,000 after purchasing an additional 226 shares during the period. Principal Securities Inc. acquired a new stake in Etsy during the fourth quarter worth about $47,000. Dimensional Fund Advisors LP increased its holdings in Etsy by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 594,667 shares of the specialty retailer’s stock valued at $48,202,000 after buying an additional 28,910 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Etsy by 3.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,368 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 161 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Etsy by 56.4% during the 4th quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after acquiring an additional 248 shares during the period. Institutional investors own 99.53% of the company’s stock.

Insider Activity

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 2,000 shares of company stock valued at $116,395 in the last ninety days. 2.60% of the stock is owned by company insiders.

Etsy Stock Performance

NASDAQ:ETSY opened at $54.00 on Thursday. The company has a market capitalization of $6.31 billion, a PE ratio of 24.66, a P/E/G ratio of 5.10 and a beta of 1.98. Etsy, Inc. has a fifty-two week low of $50.63 and a fifty-two week high of $89.58. The company has a 50 day simple moving average of $56.96 and a two-hundred day simple moving average of $61.73.

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

Analysts Set New Price Targets

ETSY has been the topic of a number of recent analyst reports. Loop Capital decreased their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company lowered their price target on Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Oppenheimer lowered Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Truist Financial lowered their target price on Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald began coverage on shares of Etsy in a report on Thursday, September 5th. They issued a “neutral” rating and a $50.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.61.

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.