Etsy Inc $ETSY Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Etsy holdings by 48.6% in the third quarter, selling 17,642 shares and retaining 18,680 shares valued at approximately $1.34 million.
• Analyst sentiment remains mixed: Etsy has a consensus rating of “Hold” and an average price target of $86.21, despite upgrades from Barclays and Seaport Research Partners.
• Etsy’s latest quarterly results missed earnings expectations, with a loss of $0.49 per share, although revenue of $668.3 million exceeded estimates; insiders have sold about 133,251 shares worth nearly $11 million over the past three months.

State of Alaska Department of Revenue reduced its holdings in shares of Etsy Inc (NYSE:ETSY - Free Report) by 48.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,680 shares of the company's stock after selling 17,642 shares during the period. State of Alaska Department of Revenue's holdings in Etsy were worth $1,335,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of Etsy by 19.3% in the 1st quarter. Blue Trust Inc. now owns 1,238 shares of the company's stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Lmcg Investments LLC raised its position in Etsy by 0.3% in the 1st quarter. Lmcg Investments LLC now owns 71,569 shares of the company's stock worth $3,577,000 after purchasing an additional 249 shares during the period. NorthCrest Asset Manangement LLC raised its position in Etsy by 9.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,166 shares of the company's stock worth $238,000 after purchasing an additional 269 shares during the period. Modera Wealth Management LLC raised its position in Etsy by 1.3% in the 1st quarter. Modera Wealth Management LLC now owns 23,889 shares of the company's stock worth $1,194,000 after purchasing an additional 302 shares during the period. Finally, Compound Planning Inc. lifted its stake in Etsy by 8.6% in the first quarter. Compound Planning Inc. now owns 4,346 shares of the company's stock worth $217,000 after purchasing an additional 346 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Canaccord Genuity Group set a $92.00 price target on shares of Etsy in a research report on Thursday, August 6th. Barclays lifted their price objective on Etsy from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Seaport Research Partners upgraded Etsy to a "buy" rating in a report on Thursday, August 20th. UBS Group boosted their target price on Etsy from $74.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada cut Etsy to a "sector perform" rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $86.21.

Etsy Stock Down 0.0%

Shares of NYSE ETSY opened at $85.10 on Tuesday. Etsy Inc has a 52 week low of $44.00 and a 52 week high of $90.32. The firm's fifty day moving average is $77.10 and its 200 day moving average is $72.37. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 2.13 and a beta of 1.86.

Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($1.24). The firm had revenue of $668.31 million for the quarter, compared to the consensus estimate of $646.10 million. Etsy had a net margin of 7.32% and a negative return on equity of 34.18%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Etsy Inc will post 3.94 earnings per share for the current year.

Insider Transactions at Etsy

In other news, Director Charles Ballard sold 4,500 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $81.85, for a total transaction of $368,325.00. Following the completion of the sale, the director directly owned 4,239 shares in the company, valued at approximately $346,962.15. This represents a 51.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard Colburn, III sold 8,252 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $82.09, for a total value of $677,406.68. Following the completion of the sale, the insider directly owned 6,503 shares in the company, valued at $533,831.27. The trade was a 55.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 133,251 shares of company stock valued at $10,966,499. Company insiders own 2.50% of the company's stock.

Etsy Company Profile

Etsy, Inc operates an online marketplace that connects independent sellers with consumers seeking unique and creative goods. Its marketplace features products such as handmade items, personalized gifts, vintage merchandise, home décor, jewelry, clothing, craft supplies and other goods made, designed, selected or sourced by individual sellers and small businesses.

The company provides tools and services that support marketplace activity, including seller storefronts, search and discovery features, payment processing, advertising, shipping assistance and customer support.

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