Banque Pictet & Cie SA Sells 27,991 Shares of Etsy, Inc. (NASDAQ:ETSY)

Banque Pictet & Cie SA cut its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,593 shares of the specialty retailer's stock after selling 27,991 shares during the period. Banque Pictet & Cie SA owned approximately 0.10% of Etsy worth $7,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Etsy in the 2nd quarter valued at approximately $42,000. Nisa Investment Advisors LLC raised its position in Etsy by 3.7% during the second quarter. Nisa Investment Advisors LLC now owns 8,915 shares of the specialty retailer's stock valued at $526,000 after purchasing an additional 316 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Etsy by 4.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,038 shares of the specialty retailer's stock worth $769,000 after purchasing an additional 601 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Etsy by 22.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 733,105 shares of the specialty retailer's stock valued at $43,239,000 after purchasing an additional 134,782 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Etsy in the 2nd quarter valued at $242,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Stock Performance

Shares of ETSY stock traded up $1.61 during trading hours on Friday, hitting $55.40. 2,455,673 shares of the company were exchanged, compared to its average volume of 3,585,579. The firm has a market cap of $6.48 billion, a P/E ratio of 25.30, a P/E/G ratio of 5.02 and a beta of 2.02. Etsy, Inc. has a fifty-two week low of $51.45 and a fifty-two week high of $89.58. The company has a 50 day simple moving average of $58.33 and a two-hundred day simple moving average of $64.22.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. Etsy's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. As a group, sell-side analysts expect that Etsy, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ETSY shares. Barclays reduced their price objective on Etsy from $67.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Wolfe Research initiated coverage on Etsy in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Needham & Company LLC lowered their target price on Etsy from $95.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Piper Sandler reiterated a "neutral" rating and issued a $56.00 target price on shares of Etsy in a research report on Friday. Finally, Evercore ISI upgraded Etsy to a "strong-buy" rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.55.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the completion of the sale, the insider now owns 18,833 shares of the company's stock, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Nicholas Daniel sold 750 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the sale, the insider now owns 18,833 shares in the company, valued at approximately $1,125,083.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total value of $94,841.92. Following the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $38,882.56. The disclosure for this sale can be found here. Insiders have sold 2,694 shares of company stock valued at $169,687 over the last ninety days. 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.

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