Arrowstreet Capital Limited Partnership Sells 133,176 Shares of Etsy, Inc. (NASDAQ:ETSY)

Arrowstreet Capital Limited Partnership cut its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,742,714 shares of the specialty retailer's stock after selling 133,176 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 3.33% of Etsy worth $197,952,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 181 shares during the period. Larson Financial Group LLC increased its position in Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after buying an additional 218 shares during the last quarter. Heron Bay Capital Management raised its stake in Etsy by 1.3% in the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock valued at $1,072,000 after buying an additional 258 shares during the period. Denver PWM LLC lifted its position 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 buying an additional 289 shares during the last quarter. Finally, Gagnon Securities LLC boosted its stake in shares of Etsy by 7.9% during the 4th 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. 99.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction 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. The trade was a 6.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,666 shares of company stock valued at $1,286,445 over the last 90 days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on ETSY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Etsy in a research report on Thursday, February 20th. JPMorgan Chase & Co. started coverage on shares of Etsy in a research note on Wednesday, March 19th. They issued a "neutral" rating and a $50.00 price target on the stock. Cantor Fitzgerald lowered their price target on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Loop Capital decreased their target price on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price target on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $58.38.

Etsy Trading Up 3.9 %

ETSY traded up $1.89 on Wednesday, reaching $50.42. The stock had a trading volume of 5,018,133 shares, compared to its average volume of 3,720,575. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The firm has a 50-day moving average of $50.74 and a 200-day moving average of $52.55.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data 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. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The company had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.