XTX Topco Ltd Reduces Position in Etsy, Inc. (NASDAQ:ETSY)

XTX Topco Ltd reduced its position in Etsy, Inc. (NASDAQ:ETSY) by 27.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,627 shares of the specialty retailer’s stock after selling 3,209 shares during the quarter. XTX Topco Ltd’s holdings in Etsy were worth $509,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETSY. Polen Capital Management LLC raised its holdings in shares of Etsy by 83.3% in the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after buying an additional 15,598 shares during the period. MCF Advisors LLC increased its stake in Etsy by 23,542.9% in the first quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after purchasing an additional 3,296 shares during the period. TD Asset Management Inc lifted its position in shares of Etsy by 16.8% during the first 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 during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Etsy by 2.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Etsy by 11.5% in the second quarter. Diversified Trust Co now owns 6,459 shares of the specialty retailer’s stock worth $381,000 after purchasing an additional 668 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ETSY shares. Stifel Nicolaus decreased their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, August 1st. 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 downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $76.00 target price on shares of Etsy in a report on Tuesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Etsy in a research note on Monday. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Etsy currently has an average rating of “Hold” and an average target price of $70.61.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’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 owns 18,083 shares in the company, valued at approximately $1,001,798.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 2,000 shares of company stock worth $116,395 in the last 90 days. Insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Shares of ETSY stock opened at $55.02 on Wednesday. Etsy, Inc. has a fifty-two week low of $50.63 and a fifty-two week high of $89.58. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 5.10 and a beta of 1.97. The stock’s 50-day simple moving average is $56.33 and its 200-day simple moving average is $61.21.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Etsy, Inc. will post 2.38 earnings per share 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.