Fiera Capital Corp Sells 13,497 Shares of Etsy, Inc. (NASDAQ:ETSY)

Key Points

• Fiera Capital Corp sold 13,497 shares of Etsy, reducing its ownership by 2.1%, and now holds approximately 636,687 shares valued at $30,039,000.
• Insider activity includes CEO Josh Silverman selling 151,666 shares and insider Nicholas Daniel selling 1,500 shares, marking significant decreases in their ownership stakes.
• Etsy's recent earnings report showed a net margin of 6.69% and a slight revenue increase year-over-year, despite missing earnings expectations.

Fiera Capital Corp cut its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 636,687 shares of the specialty retailer's stock after selling 13,497 shares during the quarter. Fiera Capital Corp owned 0.61% of Etsy worth $30,039,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% in 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 shares of Etsy in the 4th quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the fourth quarter worth $34,000. Allworth Financial LP boosted its position in shares of Etsy by 47.6% in the first quarter. Allworth Financial LP now owns 769 shares of the specialty retailer's stock worth $35,000 after buying an additional 248 shares during the period. Finally, Johnson Financial Group Inc. boosted its position in shares of Etsy by 862.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,270 shares of the specialty retailer's stock worth $70,000 after buying an additional 1,138 shares during the period. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $51.36, for a total value of $77,040.00. Following the sale, the insider owned 34,683 shares in the company, valued at $1,781,318.88. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Richard Edward Colburn III sold 2,350 shares of the company's 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 completion of the sale, the chief technology officer owned 2,896 shares in the company, valued at $136,140.96. This represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 319,132 shares of company stock valued at $19,257,846 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on ETSY shares. Citigroup decreased their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Canaccord Genuity Group set a $76.00 price objective on Etsy in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Etsy from $50.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Guggenheim boosted their price target on Etsy from $50.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price target on Etsy from $55.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Etsy presently has an average rating of "Hold" and a consensus price target of $56.76.

Etsy Price Performance

ETSY traded down $3.71 during trading on Thursday, hitting $58.27. 9,793,807 shares of the stock traded hands, compared to its average volume of 4,995,372. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $68.45. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 3.36 and a beta of 1.74. The business has a 50 day moving average price of $56.68 and a 200 day moving average price of $51.42.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The business had revenue of $672.66 million during the quarter, compared to the consensus estimate of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. On average, equities research analysts predict 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.