Etsy, Inc. (NASDAQ:ETSY) Position Trimmed by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 95.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,489 shares of the specialty retailer's stock after selling 28,019 shares during the period. Bessemer Group Inc.'s holdings in Etsy were worth $70,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after buying an additional 181 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after buying an additional 292 shares in the last quarter. Hurley Capital LLC bought a new stake in shares of Etsy in the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the 4th quarter worth approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in Etsy in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Price Performance

ETSY traded down $0.70 during trading hours on Monday, hitting $53.67. 5,651,333 shares of the stock were exchanged, compared to its average volume of 4,324,614. Etsy, Inc. has a 12 month low of $40.05 and a 12 month high of $66.81. The stock has a 50-day simple moving average of $51.96 and a 200-day simple moving average of $50.70. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 2.99 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. Etsy's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. Sell-side analysts expect that Etsy, Inc. will post 2.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 151,666 shares of Etsy stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer owned 107,809 shares of the company's stock, valued at approximately $6,218,423.12. This trade represents a 58.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the transaction, the insider directly owned 34,683 shares in the company, valued at approximately $1,781,318.88. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,298 shares of company stock valued at $11,156,039 over the last three months. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Arete Research upgraded shares of Etsy to a "strong sell" rating in a research note on Wednesday, June 11th. Canaccord Genuity Group cut their price target on shares of Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group cut their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Piper Sandler dropped their target price on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Stifel Nicolaus dropped their price objective on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Six 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, the stock has a consensus rating of "Hold" and an average price target of $49.91.

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.