Envestnet Asset Management Inc. Has $3.72 Million Stock Position in Etsy, Inc. (NASDAQ:ETSY)

Envestnet Asset Management Inc. decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 52.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,298 shares of the specialty retailer's stock after selling 76,397 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Etsy worth $3,718,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Etsy by 313.1% in the third quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock valued at $30,125,000 after purchasing an additional 411,165 shares during the period. Versant Capital Management Inc boosted its stake in Etsy by 153.1% during the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock worth $44,000 after buying an additional 499 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Etsy by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,042 shares of the specialty retailer's stock valued at $2,594,000 after acquiring an additional 816 shares during the last quarter. Cooper Financial Group boosted its position in shares of Etsy by 4.7% during the 4th quarter. Cooper Financial Group now owns 14,439 shares of the specialty retailer's stock worth $764,000 after purchasing an additional 642 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in Etsy in the 4th quarter valued at approximately $280,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Activity

In related news, CAO Merilee Buckley sold 1,676 shares of Etsy stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $48.40, for a total value of $81,118.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total transaction of $69,745.20. Following the sale, the insider now owns 592 shares of the company's stock, valued at $28,593.60. This trade represents a 70.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,952 shares of company stock valued at $2,554,620 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETSY. Wells Fargo & Company dropped their price objective on Etsy from $47.00 to $46.00 and set an "underweight" rating for the company in a research note on Wednesday, April 2nd. Barclays cut their price target on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Bank of America reduced their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group upgraded Etsy from an "underperform" rating to a "hold" rating and increased their price objective for the company from $45.00 to $55.00 in a research note on Monday, January 13th. Finally, UBS Group lowered their target price on Etsy from $54.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $54.22.

Etsy Price Performance

ETSY traded down $2.65 during trading on Wednesday, reaching $43.48. 11,845,582 shares of the stock traded hands, compared to its average volume of 3,911,954. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $71.72. The stock's 50-day simple moving average is $46.27 and its two-hundred day simple moving average is $51.20. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.08. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm had revenue of $852.16 million during the quarter, compared to analysts' expectations of $861.37 million. During the same period in the prior year, the company posted $0.62 earnings per share. Etsy's revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal 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.