Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Etsy, Inc. (NASDAQ:ETSY) by 5.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 280,943 shares of the specialty retailer’s stock after selling 16,081 shares during the period. Rhumbline Advisers owned 0.25% of Etsy worth $14,859,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Meritage Portfolio Management grew its stake in Etsy by 152.4% in the third quarter. Meritage Portfolio Management now owns 264,689 shares of the specialty retailer’s stock worth $14,698,000 after purchasing an additional 159,820 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Etsy by 183.9% in the third quarter. Pacer Advisors Inc. now owns 5,961,952 shares of the specialty retailer’s stock valued at $331,067,000 after acquiring an additional 3,861,668 shares during the period. Principal Financial Group Inc. boosted its stake in Etsy by 313.1% in the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer’s stock valued at $30,125,000 after acquiring an additional 411,165 shares during the period. Thrivent Financial for Lutherans boosted its stake in Etsy by 258.5% in the third quarter. Thrivent Financial for Lutherans now owns 118,434 shares of the specialty retailer’s stock valued at $6,576,000 after acquiring an additional 85,396 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Etsy by 740.9% in the third quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the specialty retailer’s stock valued at $3,082,000 after acquiring an additional 48,900 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the transaction, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Etsy Stock Performance

NASDAQ ETSY opened at $51.26 on Friday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 1 year low of $47.10 and a 1 year high of $74.82. The business’s fifty day moving average is $54.43 and its two-hundred day moving average is $53.78.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Etsy declared that its board has authorized a stock repurchase program on Wednesday, October 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 17.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have commented on ETSY. Truist Financial decreased their target price on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Etsy in a research note on Thursday. Barclays decreased their target price on Etsy from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Moffett Nathanson lifted their target price on Etsy from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft cut Etsy to a “hold” rating and cut their price target for the company from $45.00 to $43.00 in a report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Etsy currently has an average rating of “Hold” and a consensus target price of $58.78.

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.