Advisors Asset Management Inc. Sells 16,214 Shares of Etsy, Inc. (NASDAQ:ETSY)

Advisors Asset Management Inc. lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,489 shares of the specialty retailer's stock after selling 16,214 shares during the quarter. Advisors Asset Management Inc. owned 0.14% of Etsy worth $8,541,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its holdings in Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Etsy during the fourth quarter worth about $38,000. Versant Capital Management Inc increased its position in Etsy by 153.1% during the 4th quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after purchasing an additional 499 shares during the period. Blue Trust Inc. raised its position in Etsy by 95.1% in 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 in the last quarter. Finally, Denver PWM LLC lifted its stake in shares of Etsy by 36.1% in the fourth quarter. Denver PWM LLC now owns 1,090 shares of the specialty retailer's stock valued at $58,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Transactions at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the completion of the transaction, the insider now directly owns 20,698 shares in the company, valued at $1,044,835.04. This represents a 6.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the completion of the sale, the chief executive officer now owns 5,004 shares in the company, valued at $260,458.20. This represents a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. Corporate insiders own 2.60% of the company's stock.

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Etsy Price Performance

Shares of NASDAQ ETSY traded up $0.18 during trading hours on Friday, reaching $45.11. The stock had a trading volume of 11,112,880 shares, compared to its average volume of 3,589,848. Etsy, Inc. has a twelve month low of $43.43 and a twelve month high of $71.72. The business's fifty day moving average is $51.57 and its two-hundred day moving average is $52.88. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. During the same period in the previous year, the business earned $0.62 EPS. The firm's revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ETSY shares. JPMorgan Chase & Co. assumed coverage on Etsy in a research report on Wednesday. They issued a "neutral" rating and a $50.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered Etsy to a "hold" rating and reduced their price objective for the company from $45.00 to $43.00 in a research note on Wednesday, February 12th. Truist Financial cut their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Citigroup decreased their target price on shares of Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group dropped their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $58.42.

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.