Orion Portfolio Solutions LLC Has $1.19 Million Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Orion Portfolio Solutions LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 24.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,518 shares of the specialty retailer's stock after selling 7,422 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Etsy were worth $1,191,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC lifted its stake in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after buying an additional 181 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Etsy during the 4th quarter worth $38,000. Versant Capital Management Inc boosted its holdings in shares of Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after purchasing an additional 499 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Etsy by 95.1% during the fourth quarter. Blue Trust Inc. now owns 874 shares of the specialty retailer's stock worth $46,000 after purchasing an additional 426 shares during the last quarter. Finally, Denver PWM LLC increased its stake in Etsy by 36.1% in 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 during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have commented on ETSY. Morgan Stanley lowered their price target on Etsy from $45.00 to $44.00 and set an "underweight" rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald dropped their price objective on Etsy from $46.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. UBS Group reduced their target price on Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company dropped their price target on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. assumed coverage on Etsy in a report on Wednesday, March 19th. They issued a "neutral" rating and a $50.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has assigned 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 price target of $58.38.

Insiders Place Their Bets

In related news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total transaction of $1,044,951.18. Following the completion of the sale, the chief executive officer now owns 31,818 shares in the company, valued at $1,534,582.14. This represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,952 shares of company stock valued at $2,554,620 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

Etsy Trading Down 8.2 %

NASDAQ:ETSY traded down $3.99 during trading hours on Friday, hitting $44.42. 7,964,597 shares of the stock traded hands, compared to its average volume of 3,762,340. The firm has a 50 day moving average price of $50.45 and a 200 day moving average price of $52.42. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.57 and a beta of 2.15. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $852.16 million during the quarter, compared to the consensus estimate of $861.37 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Research analysts predict that Etsy, Inc. will post 2.57 EPS for the current year.

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.