Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 91.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,411 shares of the specialty retailer's stock after selling 72,387 shares during the period. Y Intercept Hong Kong Ltd's holdings in Etsy were worth $339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Denver PWM LLC increased its stake 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 purchasing an additional 289 shares in the last quarter. Gagnon Securities LLC increased its position in Etsy by 7.9% during the 4th quarter. Gagnon Securities LLC now owns 5,148 shares of the specialty retailer's stock valued at $272,000 after buying an additional 376 shares in the last quarter. Blue Trust Inc. raised its stake in Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock valued at $46,000 after buying an additional 426 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Etsy by 11.6% in 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 in the last quarter. Finally, Banque Pictet & Cie SA grew its stake in shares of Etsy by 0.4% in 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 last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

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Etsy Stock Up 0.3 %

ETSY traded up $0.15 during trading on Friday, reaching $47.10. The company had a trading volume of 1,405,405 shares, compared to its average volume of 3,541,062. The stock has a market cap of $5.04 billion, a P/E ratio of 19.85, a PEG ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a 52 week low of $45.85 and a 52 week high of $73.48. The business has a 50 day simple moving average of $53.29 and a 200-day simple moving average of $53.59.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.08. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $852.16 million for the quarter, compared to analysts' expectations of $861.37 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ETSY has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Thursday, February 20th. Loop Capital reduced their price target on shares of Etsy from $45.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, February 20th. Morgan Stanley decreased their price objective on shares of Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a report on Thursday, February 20th. Finally, Truist Financial cut their target price on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $58.78.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the 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 sale, the chief executive officer now directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. This represents a 81.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred 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 approximately $1,044,835.04. The trade was a 6.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $1,286,445. 2.60% of the stock is currently owned by 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.