Bridgewater Associates LP Lowers Position in Etsy, Inc. (NASDAQ:ETSY)

Bridgewater Associates LP cut its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 60.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,197 shares of the specialty retailer's stock after selling 185,198 shares during the quarter. Bridgewater Associates LP owned approximately 0.11% of Etsy worth $6,463,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETSY. Lindbrook Capital LLC raised its position in shares of Etsy by 55.7% in the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Etsy by 8.7% during the 4th quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock valued at $144,000 after acquiring an additional 218 shares during the last quarter. Heron Bay Capital Management grew its holdings in shares of Etsy by 1.3% during the fourth quarter. Heron Bay Capital Management now owns 20,260 shares of the specialty retailer's stock worth $1,072,000 after purchasing an additional 258 shares in the last quarter. Denver PWM LLC increased 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 worth $58,000 after purchasing an additional 289 shares during the last quarter. Finally, Gagnon Securities LLC lifted its position in Etsy by 7.9% during the fourth quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock valued at $272,000 after purchasing an additional 376 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the transaction, the chief executive officer now owns 31,818 shares in the company, valued at approximately $1,534,582.14. This represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 in the last quarter. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ETSY. UBS Group cut their target price on shares of Etsy from $54.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Loop Capital cut their price target on shares of Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Etsy and gave the company a "hold" rating in a research report on Monday, April 14th. Finally, Stifel Nicolaus dropped their price target on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $56.00.

Etsy Price Performance

NASDAQ:ETSY traded up $1.13 during trading hours on Tuesday, reaching $45.67. The company had a trading volume of 1,575,924 shares, compared to its average volume of 3,810,872. The firm has a market cap of $4.89 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15. The business's 50 day moving average price is $47.52 and its 200-day moving average price is $51.45. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping 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 prior year, the company posted $0.62 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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.