Raymond James & Associates Decreases Holdings in Etsy, Inc. (NASDAQ:ETSY)

Raymond James & Associates lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 55.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,762 shares of the specialty retailer's stock after selling 49,431 shares during the quarter. Raymond James & Associates' holdings in Etsy were worth $2,345,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Etsy by 0.7% in the first quarter. Vanguard Group Inc. now owns 13,528,736 shares of the specialty retailer's stock worth $929,695,000 after buying an additional 91,900 shares during the last quarter. Capital International Investors grew its position in Etsy by 0.6% in the fourth quarter. Capital International Investors now owns 8,175,260 shares of the specialty retailer's stock worth $662,605,000 after buying an additional 45,305 shares during the last quarter. Van ECK Associates Corp grew its position in Etsy by 9.2% in the first quarter. Van ECK Associates Corp now owns 5,042,610 shares of the specialty retailer's stock worth $346,528,000 after buying an additional 425,620 shares during the last quarter. Bares Capital Management Inc. grew its position in Etsy by 0.9% in the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer's stock worth $330,711,000 after buying an additional 36,623 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Etsy by 2.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer's stock worth $126,068,000 after buying an additional 30,561 shares during the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Stock Performance

Shares of NASDAQ:ETSY traded down $0.33 on Tuesday, hitting $54.76. 3,955,821 shares of the company were exchanged, compared to its average volume of 3,593,426. The company's 50 day moving average price is $57.82 and its two-hundred day moving average price is $63.10. Etsy, Inc. has a one year low of $51.45 and a one year high of $89.58. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 5.44 and a beta of 2.02.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The business had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. Research analysts predict that Etsy, Inc. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ETSY has been the topic of several recent research reports. Piper Sandler restated a "neutral" rating and issued a $56.00 price target on shares of Etsy in a research report on Friday, August 23rd. Evercore ISI raised shares of Etsy to a "strong-buy" rating in a research note on Thursday, August 1st. Wedbush reissued a "neutral" rating and set a $65.00 target price on shares of Etsy in a research note on Monday, July 22nd. Truist Financial decreased their target price on shares of Etsy from $77.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Finally, Oppenheimer lowered shares of Etsy from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Etsy presently has a consensus rating of "Hold" and an average target price of $71.55.

Insider Activity

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction that occurred on 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 directly owns 592 shares of the company's stock, valued at $38,882.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction that occurred on 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 directly owns 592 shares of the company's stock, valued at $38,882.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 750 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $59.74, for a total transaction of $44,805.00. Following the completion of the transaction, the insider now directly owns 18,833 shares in the company, valued at $1,125,083.42. 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 three months. 2.60% of the stock is owned by insiders.

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.