Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Diversified Trust Co

Diversified Trust Co cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 18.7% during the 1st quarter, Holdings Channel reports. The firm owned 5,791 shares of the specialty retailer’s stock after selling 1,333 shares during the period. Diversified Trust Co’s holdings in Etsy were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Alliance LLC acquired a new position in shares of Etsy during the 1st quarter valued at $262,000. MCF Advisors LLC increased its position in shares of Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock valued at $227,000 after purchasing an additional 3,296 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 429 shares in the last quarter. Steph & Co. boosted its stake in shares of Etsy by 562.8% during the 1st quarter. Steph & Co. now owns 2,068 shares of the specialty retailer’s stock worth $142,000 after acquiring an additional 1,756 shares in the last quarter. Finally, FCF Advisors LLC boosted its stake in shares of Etsy by 8.6% during the 1st quarter. FCF Advisors LLC now owns 22,952 shares of the specialty retailer’s stock worth $1,577,000 after acquiring an additional 1,823 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETSY has been the subject of several research reports. Guggenheim reduced their price objective on Etsy from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Loop Capital lowered Etsy from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $70.00 to $50.00 in a research note on Thursday, May 2nd. Wedbush reduced their price objective on Etsy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Etsy from $80.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group decreased their target price on Etsy from $80.00 to $70.00 and set a “neutral” rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.88.

Insider Buying and Selling at Etsy

In other news, insider Toni Thompson Nadal sold 1,444 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $38,882.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Etsy Stock Performance

Etsy stock opened at $58.23 on Friday. The business’s 50-day simple moving average is $62.19 and its 200-day simple moving average is $68.69. The firm has a market capitalization of $6.81 billion, a PE ratio of 26.59, a PEG ratio of 4.75 and a beta of 2.02. Etsy, Inc. has a 52 week low of $56.60 and a 52 week high of $102.81.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $646.30 million. During the same period last year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts forecast that Etsy, Inc. will post 2.49 earnings per share for the current year.

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.