PNC Financial Services Group Inc. Has $1.06 Million Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

PNC Financial Services Group Inc. increased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 59.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,057 shares of the specialty retailer’s stock after acquiring an additional 4,863 shares during the period. PNC Financial Services Group Inc.’s holdings in Etsy were worth $1,058,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Polen Capital Management LLC raised its stake in Etsy by 83.3% during the fourth quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock worth $2,782,000 after acquiring an additional 15,598 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Etsy during the 4th quarter worth about $267,000. Artisan Partners Limited Partnership lifted its holdings in Etsy by 2.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,555,432 shares of the specialty retailer’s stock valued at $126,068,000 after purchasing an additional 30,561 shares during the last quarter. Private Advisor Group LLC acquired a new position in Etsy in the fourth quarter valued at about $503,000. Finally, Cibc World Markets Corp grew its stake in Etsy by 1,484.3% during the fourth quarter. Cibc World Markets Corp now owns 350,295 shares of the specialty retailer’s stock worth $28,391,000 after buying an additional 328,184 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $38,882.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total transaction of $94,841.92. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total value of $108,681.84. Following the completion of the transaction, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The disclosure for this sale can be found here. Insiders have sold 3,865 shares of company stock valued at $253,031 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $60.17 on Monday. Etsy, Inc. has a 52-week low of $56.60 and a 52-week high of $102.81. The stock has a market cap of $7.04 billion, a P/E ratio of 27.47, a P/E/G ratio of 4.74 and a beta of 1.99. The firm has a 50 day moving average price of $63.73 and a 200 day moving average price of $70.00.

Etsy (NASDAQ:ETSY) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $646.00 million during the quarter, compared to the consensus estimate of $646.30 million. Etsy had a net margin of 10.75% and a negative return on equity of 67.27%. Etsy’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts predict that Etsy, Inc. will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on ETSY shares. Truist Financial reduced their target price on Etsy from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Guggenheim lowered their target price on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Oppenheimer lowered their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, B. Riley reduced their target price on shares of Etsy from $91.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Etsy has a consensus rating of “Hold” and an average price target of $79.96.

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.