Hennion & Walsh Asset Management Inc. Sells 7,140 Shares of Etsy, Inc. (NASDAQ:ETSY)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY) by 54.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,898 shares of the specialty retailer’s stock after selling 7,140 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Etsy were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ETSY. Marshall Wace LLP increased its stake in shares of Etsy by 304.2% during the second quarter. Marshall Wace LLP now owns 1,402,216 shares of the specialty retailer’s stock valued at $82,703,000 after purchasing an additional 1,055,296 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Etsy by 21.1% during the second quarter. Renaissance Technologies LLC now owns 4,215,370 shares of the specialty retailer’s stock valued at $248,623,000 after buying an additional 734,200 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Etsy by 14.3% during the second quarter. Van ECK Associates Corp now owns 5,764,064 shares of the specialty retailer’s stock valued at $339,964,000 after buying an additional 721,454 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Etsy by 52.3% during the second quarter. Pacer Advisors Inc. now owns 2,100,284 shares of the specialty retailer’s stock valued at $123,875,000 after buying an additional 721,453 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Etsy by 76.2% during the second quarter. AQR Capital Management LLC now owns 1,196,932 shares of the specialty retailer’s stock valued at $69,685,000 after buying an additional 517,480 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

Etsy Price Performance

Shares of Etsy stock opened at $47.48 on Wednesday. The stock has a market capitalization of $5.55 billion, a PE ratio of 21.68, a P/E/G ratio of 4.85 and a beta of 1.97. Etsy, Inc. has a 1-year low of $47.43 and a 1-year high of $89.58. The company’s fifty day simple moving average is $52.83 and its 200-day simple moving average is $58.37.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ETSY shares. Truist Financial reiterated a “buy” rating and set a $76.00 price target on shares of Etsy in a report on Tuesday, September 24th. The Goldman Sachs Group cut shares of Etsy from a “neutral” rating to a “sell” rating and cut their price target for the company from $70.00 to $45.00 in a report on Tuesday, October 15th. Stifel Nicolaus dropped their target price on shares of Etsy from $64.00 to $56.00 and set a “hold” rating on the stock in a report on Monday. Wolfe Research initiated coverage on shares of Etsy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Etsy from $58.00 to $47.00 and set an “underweight” rating on the stock in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Etsy has an average rating of “Hold” and a consensus price target of $66.48.

Insider Activity

In other news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the sale, the insider now directly owns 18,083 shares in the company, valued at $1,001,798.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Etsy news, insider Toni Thompson Nadal sold 1,443 shares of Etsy stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $51.11, for a total value of $73,751.73. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $30,257.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Daniel sold 750 shares of Etsy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.40, for a total transaction of $41,550.00. Following the completion of the sale, the insider now owns 18,083 shares in the company, valued at approximately $1,001,798.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,619 shares of company stock worth $300,670 in the last three months. Company insiders own 2.60% of the company’s stock.

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.