Harbor Capital Advisors Inc. Sells 4,552 Shares of Etsy, Inc. (NASDAQ:ETSY)

Harbor Capital Advisors Inc. trimmed its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 9.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,490 shares of the specialty retailer's stock after selling 4,552 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Etsy were worth $2,099,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ETSY. Lindbrook Capital LLC lifted its holdings in shares of Etsy by 55.7% during 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 in the last quarter. True Wealth Design LLC raised its position in Etsy by 112.7% in the fourth quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 292 shares during the period. Hurley Capital LLC purchased a new position in Etsy in the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Etsy in the fourth quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new position in Etsy in the fourth quarter valued at about $37,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Stifel Nicolaus cut their price objective on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Etsy in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, B. Riley reduced their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.17.

Etsy Stock Down 5.6%

Shares of NASDAQ:ETSY traded down $3.30 on Friday, reaching $55.99. 10,589,250 shares of the company's stock were exchanged, compared to its average volume of 4,167,107. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 2.57 and a beta of 1.80. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.81. The business's 50-day moving average is $49.04 and its two-hundred day moving average is $51.27.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). The business had revenue of $651.18 million for the quarter, compared to analyst estimates of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. Analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the sale, the chief executive officer now directly owns 31,818 shares of the company's stock, valued at $1,534,582.14. This represents a 40.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.24, for a total transaction of $72,360.00. Following the transaction, the insider now directly owns 34,822 shares in the company, valued at approximately $1,679,813.28. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 205,418 shares of company stock valued at $11,234,192. 2.80% of the stock is owned by insiders.

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.