Etsy, Inc. (NASDAQ:ETSY) Stake Lessened by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH decreased its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 96.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 750 shares of the specialty retailer's stock after selling 19,966 shares during the quarter. Boyd Watterson Asset Management LLC OH's holdings in Etsy were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Etsy during the 4th quarter worth approximately $74,235,000. Assenagon Asset Management S.A. boosted its holdings in Etsy by 36.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock worth $95,599,000 after acquiring an additional 535,864 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Etsy by 53.7% in the first quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer's stock worth $58,923,000 after acquiring an additional 436,231 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Etsy by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after acquiring an additional 419,038 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Etsy in the fourth quarter worth about $19,412,000. Institutional investors own 99.53% of the company's stock.

Insider Activity at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the sale, the insider directly owned 34,683 shares in the company, valued at approximately $1,781,318.88. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the completion of the transaction, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. The trade was a 44.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,298 shares of company stock valued at $20,256,039. Company insiders own 2.80% of the company's stock.

Etsy Price Performance

Shares of ETSY stock traded down $1.52 during trading hours on Friday, reaching $62.46. 3,819,448 shares of the company's stock were exchanged, compared to its average volume of 4,634,180. The company has a market cap of $6.51 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 3.49 and a beta of 1.74. The company's 50 day moving average is $55.59 and its two-hundred day moving average is $51.21. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.31.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share 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 analysts' expectations of $642.22 million. Etsy had a negative return on equity of 39.60% and a net margin of 6.69%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. As a group, analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETSY shares. JPMorgan Chase & Co. raised their target price on Etsy from $50.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday. Morgan Stanley upgraded Etsy from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $38.00 to $50.00 in a report on Monday, July 21st. Evercore ISI cut their price objective on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Raymond James Financial boosted their target price on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price target on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Thursday, May 1st. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Etsy presently has an average rating of "Hold" and a consensus target price of $51.71.

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.