Tredje AP fonden Sells 64,303 Shares of Etsy, Inc. (NASDAQ:ETSY)

Tredje AP fonden lowered its position in Etsy, Inc. (NASDAQ:ETSY) by 77.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,655 shares of the specialty retailer’s stock after selling 64,303 shares during the period. Tredje AP fonden’s holdings in Etsy were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ETSY. Polen Capital Management LLC raised its position in Etsy by 83.3% in the 4th quarter. Polen Capital Management LLC now owns 34,322 shares of the specialty retailer’s stock valued at $2,782,000 after purchasing an additional 15,598 shares during the last quarter. MCF Advisors LLC lifted its position in Etsy by 23,542.9% during the 1st quarter. MCF Advisors LLC now owns 3,310 shares of the specialty retailer’s stock worth $227,000 after buying an additional 3,296 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in Etsy during the 4th quarter worth about $267,000. TD Asset Management Inc grew its holdings in Etsy by 16.8% during the 1st quarter. TD Asset Management Inc now owns 1,540,465 shares of the specialty retailer’s stock worth $105,861,000 after acquiring an additional 221,275 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Etsy by 2.0% in 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 acquiring an additional 30,561 shares in the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the sale, the insider now owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 2,000 shares of company stock valued at $116,395. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETSY. Stifel Nicolaus reduced their target price on shares of Etsy from $65.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Oppenheimer downgraded Etsy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Evercore ISI raised Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Loop Capital cut their price target on Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $56.00 price objective on shares of Etsy in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.61.

Etsy Price Performance

NASDAQ ETSY opened at $53.91 on Friday. The stock’s 50-day moving average is $56.81 and its 200-day moving average is $61.62. Etsy, Inc. has a one year low of $50.63 and a one year high of $89.58. The firm has a market cap of $6.30 billion, a P/E ratio of 24.62, a P/E/G ratio of 5.10 and a beta of 1.98.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The company had revenue of $647.80 million during the quarter, compared to the consensus estimate of $629.87 million. During the same period in the previous year, the firm posted $0.83 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Etsy, Inc. will post 2.38 EPS 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.