Corient Private Wealth LLC Decreases Stake in Etsy, Inc. (NASDAQ:ETSY)

Corient Private Wealth LLC reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,439 shares of the specialty retailer's stock after selling 12,526 shares during the period. Corient Private Wealth LLC's holdings in Etsy were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETSY. Van ECK Associates Corp raised its position in shares of Etsy by 17.4% during the fourth quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after acquiring an additional 522,111 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Etsy by 12.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,748,008 shares of the specialty retailer's stock worth $92,452,000 after purchasing an additional 188,386 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Etsy by 132.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after purchasing an additional 122,126 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Etsy in the 3rd quarter valued at $49,061,000. 99.53% of the stock is owned by institutional investors and hedge funds.

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Etsy Price Performance

Shares of NASDAQ ETSY traded up $1.89 during trading on Wednesday, hitting $50.42. The stock had a trading volume of 5,018,133 shares, compared to its average volume of 3,724,997. The firm has a fifty day moving average of $50.70 and a two-hundred day moving average of $52.54. Etsy, Inc. has a 12 month low of $43.43 and a 12 month high of $71.72. The company has a market capitalization of $5.40 billion, a PE ratio of 21.27, a PEG ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 EPS 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 firm had revenue of $852.16 million during the quarter, compared to analyst estimates of $861.37 million. During the same quarter last year, the business posted $0.62 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Etsy from an "underperform" rating to a "hold" rating and boosted their target price for the company from $45.00 to $55.00 in a report on Monday, January 13th. Stifel Nicolaus lowered their target price on Etsy from $56.00 to $51.00 and set a "hold" rating for the company in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on Etsy from $47.00 to $46.00 and set an "underweight" rating on the stock in a report on Wednesday. Cantor Fitzgerald lowered their price objective on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group dropped their target price on shares of Etsy from $105.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $58.38.

Insider Buying and Selling

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is owned by company insiders.

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.