Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Crestline Management LP

Crestline Management LP cut its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 68.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,261 shares of the specialty retailer's stock after selling 13,400 shares during the quarter. Crestline Management LP's holdings in Etsy were worth $331,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Etsy in the 4th quarter worth approximately $74,235,000. Assenagon Asset Management S.A. lifted its holdings in Etsy by 132.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after purchasing an additional 850,520 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock worth $42,982,000 after purchasing an additional 711,572 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock worth $186,583,000 after purchasing an additional 522,111 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Etsy by 89.1% in the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after purchasing an additional 419,038 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors.

Etsy Trading Up 0.4%

Shares of NASDAQ ETSY traded up $0.19 during midday trading on Wednesday, reaching $46.96. The company had a trading volume of 4,158,619 shares, compared to its average volume of 3,874,164. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.93. The stock has a market cap of $4.90 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.57 and a beta of 1.78. The business's 50-day simple moving average is $45.39 and its 200 day simple moving average is $50.92.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The company had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ETSY. The Goldman Sachs Group decreased their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald upped their price objective on Etsy from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Etsy from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Etsy in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.14.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.07, for a total value of $64,605.00. Following the sale, the insider now directly owns 33,322 shares of the company's stock, valued at approximately $1,435,178.54. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of Etsy stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $28,593.60. This represents a 70.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,618 shares of company stock valued at $3,469,803. Company insiders own 2.60% of the company's stock.

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.