Hennion & Walsh Asset Management Inc. Trims Position in Etsy, Inc. (NASDAQ:ETSY)

Hennion & Walsh Asset Management Inc. lowered its stake in Etsy, Inc. (NASDAQ:ETSY) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,437 shares of the specialty retailer’s stock after selling 2,651 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Etsy were worth $855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors grew its stake 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 purchasing an additional 45,305 shares during the period. Van ECK Associates Corp grew its holdings in Etsy by 26.5% in the fourth quarter. Van ECK Associates Corp now owns 4,616,990 shares of the specialty retailer’s stock worth $374,207,000 after purchasing an additional 967,777 shares during the period. Bares Capital Management Inc. increased its stake in shares of Etsy by 0.9% during the fourth quarter. Bares Capital Management Inc. now owns 4,080,338 shares of the specialty retailer’s stock valued at $330,711,000 after purchasing an additional 36,623 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Etsy by 2.0% during the fourth 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. Finally, TD Asset Management Inc grew its stake in shares of Etsy by 260.2% in the 4th quarter. TD Asset Management Inc now owns 1,319,190 shares of the specialty retailer’s stock worth $106,920,000 after buying an additional 952,907 shares during the last quarter. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ETSY shares. Loop Capital downgraded Etsy from a “hold” rating to a “sell” rating and dropped their target price for the stock from $70.00 to $50.00 in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Guggenheim reduced their price target on shares of Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 25th. Finally, JMP Securities downgraded Etsy from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.88.

Etsy Price Performance

Shares of NASDAQ ETSY opened at $57.01 on Tuesday. Etsy, Inc. has a 1-year low of $56.60 and a 1-year high of $102.81. The business’s 50 day moving average is $62.74 and its two-hundred day moving average is $69.00. The stock has a market capitalization of $6.67 billion, a P/E ratio of 26.03, a PEG ratio of 4.81 and a beta of 2.02.

Etsy (NASDAQ:ETSY) last posted its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Etsy had a negative return on equity of 67.27% and a net margin of 10.75%. The firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $646.30 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Etsy, Inc. will post 2.49 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 2,827 shares of the company’s stock, valued at $183,868.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $65.68, for a total value of $94,841.92. Following the sale, the insider now owns 592 shares in the company, valued at $38,882.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Merilee Buckley sold 1,671 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the sale, the chief accounting officer now directly owns 2,827 shares of the company’s stock, valued at $183,868.08. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Etsy 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.