Bank of New York Mellon Corp Has $44.18 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Bank of New York Mellon Corp cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 42.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 835,259 shares of the specialty retailer’s stock after selling 609,625 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of Etsy worth $44,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Denver PWM LLC increased its position in shares of Etsy by 36.1% during the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 289 shares during the last quarter. Gagnon Securities LLC lifted its holdings in Etsy by 7.9% during the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer’s stock worth $272,000 after acquiring an additional 376 shares during the period. Blue Trust Inc. lifted its holdings in Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 426 shares during the period. Coldstream Capital Management Inc. lifted its holdings in Etsy by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,302 shares of the specialty retailer’s stock worth $239,000 after acquiring an additional 448 shares during the period. Finally, Banque Pictet & Cie SA lifted its holdings in Etsy by 0.4% during the fourth quarter. Banque Pictet & Cie SA now owns 137,790 shares of the specialty retailer’s stock worth $7,288,000 after acquiring an additional 497 shares during the period. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the completion of the sale, the insider now owns 22,198 shares of the company’s stock, valued at $1,228,437.32. The trade was a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now directly owns 5,004 shares of the company’s stock, valued at approximately $260,458.20. This trade represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,666 shares of company stock valued at $1,286,445 over the last 90 days. Insiders own 2.60% of the company’s stock.

Etsy Stock Down 6.1 %

Etsy stock opened at $46.95 on Friday. Etsy, Inc. has a 52 week low of $46.52 and a 52 week high of $73.48. The business has a 50-day simple moving average of $53.43 and a 200 day simple moving average of $53.64. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.57 and a beta of 2.00.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on ETSY shares. Wells Fargo & Company lifted their price target on Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered Etsy to a “hold” rating and dropped their price target for the stock from $45.00 to $43.00 in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Stifel Nicolaus decreased their target price on Etsy from $56.00 to $51.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Etsy in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.78.

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.