Etsy, Inc. $ETSY Holdings Lowered by Kaufman Rossin Wealth LLC

Key Points

• Kaufman Rossin Wealth LLC decreased its stake in Etsy by 44.9%, selling 4,244 shares, and now holds 5,213 shares valued at $261,000 as of its latest SEC filing.
• Several hedge funds have adjusted their positions in Etsy, with Diversified Trust Co increasing its stake by 16.8% and Kera Capital Partners Inc. boosting its holdings by 92.5% during the same quarter.
• Analysts have mixed ratings for Etsy, with a consensus rating of "Hold" and a target price of $57.80, although eight analysts have rated the stock as a "Buy".

Kaufman Rossin Wealth LLC decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 44.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,213 shares of the specialty retailer's stock after selling 4,244 shares during the quarter. Kaufman Rossin Wealth LLC's holdings in Etsy were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ETSY. AQR Capital Management LLC increased its holdings in Etsy by 423.7% in the 1st quarter. AQR Capital Management LLC now owns 4,658,225 shares of the specialty retailer's stock worth $218,890,000 after acquiring an additional 3,768,787 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Etsy by 112.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,803,956 shares of the specialty retailer's stock valued at $132,273,000 after acquiring an additional 1,486,142 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Etsy by 36.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,026,263 shares of the specialty retailer's stock valued at $95,599,000 after buying an additional 535,864 shares during the period. Victory Capital Management Inc. increased its position in shares of Etsy by 53.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,248,902 shares of the specialty retailer's stock worth $58,923,000 after purchasing an additional 436,231 shares during the last quarter. Finally, Findlay Park Partners LLP raised its stake in shares of Etsy by 1.4% in the 1st quarter. Findlay Park Partners LLP now owns 1,236,000 shares of the specialty retailer's stock valued at $58,314,000 after acquiring an additional 16,600 shares during the period. Hedge funds and other institutional investors own 99.53% of the company's stock.

Insider Transactions at Etsy

In other Etsy news, CEO Josh Silverman sold 70,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $65.00, for a total value of $4,550,000.00. Following the sale, the chief executive officer directly owned 62,674 shares in the company, valued at approximately $4,073,810. This trade represents a 52.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marla J. Blow sold 450 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $67.46, for a total transaction of $30,357.00. Following the transaction, the director directly owned 9,491 shares of the company's stock, valued at approximately $640,262.86. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 386,482 shares of company stock valued at $23,680,691 over the last three months. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ETSY has been the subject of several recent research reports. Raymond James Financial raised their price target on shares of Etsy from $50.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Truist Financial lifted their price objective on shares of Etsy from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Sanford C. Bernstein upped their target price on shares of Etsy from $45.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Arete raised Etsy from a "sell" rating to a "neutral" rating and set a $54.00 target price on the stock in a research note on Thursday, August 7th. Finally, Arete Research upgraded Etsy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $57.80.

Etsy Stock Performance

Shares of NASDAQ ETSY traded up $0.14 during trading on Friday, reaching $64.99. The stock had a trading volume of 6,481,294 shares, compared to its average volume of 5,926,927. The firm's 50 day moving average price is $59.63 and its two-hundred day moving average price is $52.95. Etsy, Inc. has a one year low of $40.05 and a one year high of $70.57. The stock has a market cap of $6.44 billion, a PE ratio of 52.41, a P/E/G ratio of 4.14 and a beta of 1.77.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.29). The company had revenue of $672.66 million for 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 firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. On average, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.