Impax Asset Management Group plc Sells 92,873 Shares of Etsy, Inc. (NASDAQ:ETSY)

Impax Asset Management Group plc cut its holdings in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 83.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,388 shares of the specialty retailer's stock after selling 92,873 shares during the period. Impax Asset Management Group plc's holdings in Etsy were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC increased its stake in shares of Etsy by 55.7% in the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. True Wealth Design LLC boosted its position in Etsy by 112.7% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new position in Etsy during the 4th quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the 4th quarter valued at approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Etsy in the 4th quarter valued at approximately $37,000. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Etsy Price Performance

NASDAQ:ETSY traded down $0.17 during trading hours on Wednesday, hitting $53.29. The company's stock had a trading volume of 1,289,014 shares, compared to its average volume of 4,306,399. The stock has a fifty day simple moving average of $52.11 and a 200-day simple moving average of $50.72. The company has a market capitalization of $5.56 billion, a P/E ratio of 38.07, a PEG ratio of 2.95 and a beta of 1.74. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The firm had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. During the same period in the previous year, the business posted $0.48 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ETSY. Arete downgraded Etsy from a "neutral" rating to a "sell" rating and set a $43.00 price target for the company. in a report on Wednesday, June 11th. Loop Capital cut their price target on Etsy from $40.00 to $37.00 and set a "sell" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group cut their price target on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a report on Thursday, May 1st. B. Riley cut their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price target on Etsy and gave the company a "hold" rating in a report on Monday, April 14th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $49.91.

Insider Activity

In other news, CTO Richard Edward Colburn III sold 2,350 shares of Etsy stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer directly owned 2,896 shares of the company's stock, valued at approximately $136,140.96. This trade represents a 44.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total value of $77,040.00. Following the completion of the transaction, the insider directly owned 34,683 shares in the company, valued at approximately $1,781,318.88. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,298 shares of company stock valued at $11,156,039. 2.80% of the stock is currently owned by corporate insiders.

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.