Cwm LLC Lowers Stock Holdings in Etsy, Inc. $ETSY

Key Points

• Cwm LLC reduced its stake in Etsy, Inc. by 11.0% during the second quarter, selling 10,782 shares and ending up with a total of 87,015 shares valued at approximately $4.37 million.
• Despite missing earnings expectations with only $0.25 EPS reported against an anticipated $0.54, Etsy's revenue increased by 3.8% year-over-year, totaling $672.66 million for the quarter.
• Insider activity shows significant sales, with directors selling a total of 542,667 shares within the past 90 days, indicating a 42.01% reduction in position for one director.

Cwm LLC lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,015 shares of the specialty retailer's stock after selling 10,782 shares during the quarter. Cwm LLC owned about 0.08% of Etsy worth $4,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Etsy during the second quarter worth about $262,000. Lmcg Investments LLC grew its holdings in shares of Etsy by 56.0% during the second quarter. Lmcg Investments LLC now owns 66,119 shares of the specialty retailer's stock worth $3,317,000 after buying an additional 23,733 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Etsy by 18.7% during the second quarter. Blue Trust Inc. now owns 1,150 shares of the specialty retailer's stock worth $58,000 after buying an additional 181 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Etsy by 21.6% during the second quarter. IFP Advisors Inc now owns 4,001 shares of the specialty retailer's stock worth $201,000 after buying an additional 712 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Etsy by 1.7% during the second quarter. Vontobel Holding Ltd. now owns 40,523 shares of the specialty retailer's stock worth $2,033,000 after buying an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 99.53% of the company's stock.

Etsy Trading Up 1.0%

ETSY stock opened at $71.41 on Friday. The firm has a 50 day moving average of $63.18 and a 200-day moving average of $55.84. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $76.51. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 10.65 and a beta of 1.85.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. Etsy's revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Activity at Etsy

In other news, Director M Michele Burns sold 14,464 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.82, for a total transaction of $908,628.48. Following the completion of the sale, the director directly owned 19,964 shares in the company, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Andrew Ballard sold 2,400 shares of Etsy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $62.42, for a total transaction of $149,808.00. Following the sale, the director owned 5,796 shares of the company's stock, valued at approximately $361,786.32. The trade was a 29.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 542,667 shares of company stock worth $35,462,857. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley set a $54.00 price target on Etsy in a report on Monday, September 29th. Bank of America raised their price objective on shares of Etsy from $71.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Etsy from $40.00 to $47.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. UBS Group restated a "neutral" rating and issued a $67.00 price objective on shares of Etsy in a research report on Thursday, July 31st. Finally, Arete upgraded shares of Etsy from a "sell" rating to a "neutral" rating and set a $54.00 price objective for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $59.35.

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.

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