Polen Capital Management LLC Sells 9,701 Shares of Etsy, Inc. (NASDAQ:ETSY)

Polen Capital Management LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,037 shares of the specialty retailer's stock after selling 9,701 shares during the quarter. Polen Capital Management LLC's holdings in Etsy were worth $795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after buying an additional 181 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Etsy by 8.7% during the fourth quarter. Larson Financial Group LLC now owns 2,728 shares of the specialty retailer's stock worth $144,000 after purchasing an additional 218 shares during the last quarter. Denver PWM LLC grew 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 worth $58,000 after purchasing an additional 289 shares in the last quarter. Gagnon Securities LLC increased its holdings in Etsy by 7.9% in the fourth 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 during the last quarter. Finally, M&T Bank Corp raised its stake in Etsy by 7.3% during the fourth quarter. M&T Bank Corp now owns 6,009 shares of the specialty retailer's stock valued at $318,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

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Analyst Ratings Changes

Several research firms recently issued reports on ETSY. Loop Capital dropped their price target on Etsy from $45.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, February 20th. UBS Group reduced their price target on shares of Etsy from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Morgan Stanley decreased their price target 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. Truist Financial dropped their price objective on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Citigroup decreased their target price on Etsy from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $58.42.

Etsy Price Performance

Shares of ETSY traded up $0.18 during mid-day trading on Friday, hitting $45.11. The company's stock had a trading volume of 11,112,875 shares, compared to its average volume of 3,580,346. The firm has a 50-day moving average price of $51.72 and a 200 day moving average price of $52.96. Etsy, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $71.72. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.57 and a beta of 2.23.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Insider Activity at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the sale, the insider now owns 20,698 shares of the company's stock, valued at $1,044,835.04. This trade represents a 6.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now directly owns 5,004 shares in the company, valued at $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. Insiders sold 24,666 shares of company stock worth $1,286,445 in the last quarter. 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.