APG Asset Management N.V. Lowers Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

APG Asset Management N.V. cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 72.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,852 shares of the specialty retailer’s stock after selling 38,700 shares during the quarter. APG Asset Management N.V.’s holdings in Etsy were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. lifted 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 acquiring an additional 429 shares during the period. Larson Financial Group LLC boosted its stake in shares of Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 536 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Etsy during the second quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in Etsy in the first quarter worth approximately $59,000. Finally, GAMMA Investing LLC lifted its holdings in Etsy by 47.7% during the first quarter. GAMMA Investing LLC now owns 988 shares of the specialty retailer’s stock worth $68,000 after buying an additional 319 shares during the period. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Down 5.8 %

Shares of NASDAQ ETSY opened at $52.30 on Wednesday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 5.39 and a beta of 1.97. Etsy, Inc. has a 12 month low of $50.63 and a 12 month high of $89.58. The company has a 50 day simple moving average of $55.72 and a two-hundred day simple moving average of $60.80.

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

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of the business’s 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 transaction, the insider now directly owns 18,083 shares of the company’s stock, valued at $1,001,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Etsy in a report on Monday. Stifel Nicolaus reduced their target price 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. Wedbush restated a “neutral” rating and issued a $65.00 price target on shares of Etsy in a report on Monday, July 22nd. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Wolfe Research began coverage on shares of Etsy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Etsy has a consensus rating of “Hold” and a consensus target price of $70.61.

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.