Etsy, Inc. (NASDAQ:ETSY) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its stake in Etsy, Inc. by 14.7%, holding 98,682 shares valued at approximately $4.66 million after selling 16,971 shares.
• Multiple analysts have adjusted their price targets for Etsy, with Canaccord Genuity setting it at $76.00 and Needham upgrading it from $55.00 to $72.00, while others have issued sell ratings.
• In the latest quarter, Etsy reported $0.25 earnings per share, missing estimates of $0.54, despite a 3.8% increase in quarterly revenue year-over-year.

New Age Alpha Advisors LLC lowered its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 14.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,682 shares of the specialty retailer's stock after selling 16,971 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.09% of Etsy worth $4,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Etsy by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,421,641 shares of the specialty retailer's stock valued at $286,751,000 after purchasing an additional 235,550 shares during the period. Assenagon Asset Management S.A. boosted its position in 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 worth $95,599,000 after acquiring an additional 535,864 shares during the period. Victory Capital Management Inc. boosted its position in 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 acquiring an additional 436,231 shares during the period. Dimensional Fund Advisors LP boosted its position in Etsy by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,118,697 shares of the specialty retailer's stock worth $59,172,000 after acquiring an additional 33,736 shares during the period. Finally, AQR Capital Management LLC boosted its position in Etsy by 89.1% during the 4th quarter. AQR Capital Management LLC now owns 889,438 shares of the specialty retailer's stock worth $47,042,000 after acquiring an additional 419,038 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ETSY. Canaccord Genuity Group set a $76.00 price target on Etsy in a research report on Wednesday, July 30th. Needham & Company LLC boosted their price objective on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group dropped their price objective on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company boosted their target price on Etsy from $41.00 to $57.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Etsy currently has a consensus rating of "Hold" and a consensus price target of $56.76.

Insider Buying and Selling

In other news, CTO Richard Edward Colburn III sold 2,350 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $47.01, for a total value of $110,473.50. Following the completion of the sale, the chief technology officer directly owned 2,896 shares in the company, 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 filing with the SEC, which is available through this link. Also, CAO Merilee Buckley sold 5,817 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $58.83, for a total value of $342,214.11. The disclosure for this sale can be found here. Insiders sold a total of 355,024 shares of company stock valued at $21,368,211 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Etsy Stock Performance

Shares of ETSY opened at $55.98 on Wednesday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 3.64 and a beta of 1.73. The stock has a fifty day moving average price of $57.21 and a two-hundred day moving average price of $51.49. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $68.45.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $645.16 million. During the same quarter last year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

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.

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