Financial Advisors Network Inc. Decreases Position in Etsy, Inc. $ETSY

Key Points

• Financial Advisors Network Inc. significantly reduced its stake in Etsy, Inc. by 95.2%, selling 85,787 shares and leaving it with only 4,279 shares valued at $202,000.
• Etsy reported earnings of $0.25 per share, falling short of the consensus estimate of $0.54, despite revenues of $672.66 million, which exceeded analyst expectations.
• Institutional investors and hedge funds collectively own 99.53% of Etsy's stock, reflecting strong institutional interest in the company.

Financial Advisors Network Inc. lowered its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 95.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,279 shares of the specialty retailer's stock after selling 85,787 shares during the quarter. Financial Advisors Network Inc.'s holdings in Etsy were worth $202,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in shares of Etsy by 23.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,599 shares of the specialty retailer's stock worth $190,000 after acquiring an additional 679 shares during the last quarter. Marshall Wace LLP increased its holdings in Etsy by 6,522.4% during the 4th quarter. Marshall Wace LLP now owns 261,716 shares of the specialty retailer's stock worth $13,842,000 after purchasing an additional 257,764 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Etsy by 7.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 121,454 shares of the specialty retailer's stock worth $6,419,000 after purchasing an additional 8,927 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Etsy in the fourth quarter valued at approximately $11,506,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Etsy by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer's stock valued at $59,172,000 after purchasing an additional 33,736 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $58.79, for a total transaction of $88,185.00. Following the transaction, the insider directly owned 33,183 shares in the company, valued at approximately $1,950,828.57. This represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marla J. Blow sold 450 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $67.46, for a total value of $30,357.00. Following the completion of the sale, the director owned 9,491 shares of the company's stock, valued at $640,262.86. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,618 shares of company stock valued at $21,975,392 over the last quarter. Company insiders own 2.80% of the company's stock.

Etsy Stock Performance

Etsy stock traded down $0.26 during midday trading on Friday, hitting $62.66. 4,418,756 shares of the company's stock were exchanged, compared to its average volume of 5,660,343. The company has a market cap of $6.21 billion, a P/E ratio of 50.53, a PEG ratio of 4.01 and a beta of 1.73. The stock has a 50-day moving average price of $58.46 and a two-hundred day moving average price of $52.40. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings results 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). Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The business had revenue of $672.66 million during the quarter, compared to analysts' expectations of $645.16 million. During the same period in the previous year, the business earned $0.41 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETSY. Citigroup reduced their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. B. Riley dropped their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital cut their price objective 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. Evercore ISI cut their price target on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC boosted their price objective on Etsy from $55.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $57.80.

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.