Etsy, Inc. $ETSY Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Etsy, Inc. by 10.8% in the first quarter, owning 88,350 shares valued at approximately $4.16 million after selling 10,720 shares.
• Insider sales included Director Marla J. Blow selling 450 shares and CEO Josh Silverman selling 21,666 shares, representing significant decreases in their respective positions.
• Several analysts have lowered their price targets for Etsy, with Evercore ISI decreasing it from $60.00 to $54.00, while an average rating on the stock stands at "Hold" with a consensus price target of $57.80.

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,350 shares of the specialty retailer's stock after selling 10,720 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.08% of Etsy worth $4,163,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ETSY. Allworth Financial LP boosted its holdings in shares of Etsy by 47.6% in the 1st quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock valued at $35,000 after buying an additional 248 shares during the period. 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 during the period. GAMMA Investing LLC boosted its holdings in shares of Etsy by 39.4% in the 1st quarter. GAMMA Investing LLC now owns 1,928 shares of the specialty retailer's stock valued at $91,000 after buying an additional 545 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Etsy by 842.2% in the 1st quarter. Brooklyn Investment Group now owns 782 shares of the specialty retailer's stock valued at $37,000 after buying an additional 699 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Etsy by 18.5% in the 1st quarter. HighTower Advisors LLC now owns 4,889 shares of the specialty retailer's stock valued at $231,000 after buying an additional 764 shares during the period. 99.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other Etsy news, Director Marla J. Blow sold 450 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $67.46, for a total transaction of $30,357.00. Following the sale, the director directly owned 9,491 shares in the company, valued at approximately $640,262.86. The trade was a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $58.76, for a total transaction of $1,273,094.16. Following the sale, the chief executive officer owned 62,674 shares in the company, valued at $3,682,724.24. This trade represents a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 364,618 shares of company stock worth $21,975,392 in the last three months. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Evercore ISI decreased their price target 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. The Goldman Sachs Group decreased 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. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price target on shares of Etsy in a report on Thursday, July 31st. Raymond James Financial lifted their price target on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Loop Capital decreased their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, May 1st. Eight analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Etsy currently has an average rating of "Hold" and a consensus price target of $57.80.

Etsy Stock Up 2.3%

Shares of NASDAQ:ETSY opened at $64.96 on Thursday. The company has a market cap of $6.44 billion, a PE ratio of 52.39, a P/E/G ratio of 4.03 and a beta of 1.73. The company's 50-day moving average price is $58.25 and its 200 day moving average price is $52.28. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The firm had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current year.

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.

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