T. Rowe Price Investment Management Inc. Has $82,000 Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 97.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,535 shares of the specialty retailer's stock after selling 63,988 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Etsy were worth $82,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ETSY. DJE Kapital AG bought a new stake in shares of Etsy during the fourth quarter worth $983,000. Charles Schwab Investment Management Inc. boosted its stake in Etsy by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after purchasing an additional 122,126 shares during the period. Principal Financial Group Inc. increased its holdings in Etsy by 313.1% during the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after purchasing an additional 411,165 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Etsy in the 4th quarter valued at about $492,000. Finally, Natixis Advisors LLC acquired a new position in shares of Etsy during the fourth quarter worth about $606,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $45.86 on Monday. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.57 and a beta of 2.15. The stock's fifty day moving average price is $46.64 and its two-hundred day moving average price is $51.32. Etsy, Inc. has a one year low of $40.05 and a one year high of $71.72.

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

Insider Activity

In related news, insider Toni Thompson Nadal sold 1,444 shares of the business's stock in a transaction dated 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 owns 592 shares of the company's stock, valued at $28,593.60. The trade was a 70.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction of $1,127,715.30. Following the sale, the chief executive officer now 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. Over the last ninety days, insiders sold 50,952 shares of company stock worth $2,554,620. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group cut their target price on Etsy from $45.00 to $35.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Bank of America cut their price objective on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on shares of Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research report on Wednesday, April 2nd. Jefferies Financial Group upgraded shares of Etsy from an "underperform" rating to a "hold" rating and increased their price objective for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, Canaccord Genuity Group decreased their price objective on Etsy from $105.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Four equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.54.

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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