Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Impax Asset Management Group plc

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

A number of other hedge funds have also made changes to their positions in ETSY. Lindbrook Capital LLC raised its holdings in shares of Etsy by 55.7% during the fourth 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 raised its holdings in shares of Etsy by 112.7% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 99.53% of the company's stock.

Etsy Trading Up 2.7%

NASDAQ:ETSY opened at $54.40 on Monday. The firm has a market cap of $5.67 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.74. The stock has a fifty day moving average price of $51.81 and a 200 day moving average price of $50.72. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last released its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The company had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. Etsy had a net margin of 6.69% and a negative return on equity of 39.60%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. Equities analysts forecast that Etsy, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus cut their price target on Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. 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. Morgan Stanley cut their price target on Etsy from $40.00 to $38.00 and set an "underweight" 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, Piper Sandler cut their price target on Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.91.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company's 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 of the company's stock, valued at $1,781,318.88. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $51.37, for a total value of $1,112,982.42. Following the completion of the transaction, the chief executive officer directly owned 62,674 shares of the company's stock, valued at $3,219,563.38. This trade represents a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,298 shares of company stock valued at $11,156,039. Corporate insiders own 2.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.