Penserra Capital Management LLC Reduces Holdings in Etsy, Inc. (NASDAQ:ETSY)

Penserra Capital Management LLC decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,751 shares of the specialty retailer's stock after selling 6,176 shares during the period. Penserra Capital Management LLC owned about 0.07% of Etsy worth $3,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. Proficio Capital Partners LLC purchased a new stake in Etsy during the 4th quarter worth $604,000. Smartleaf Asset Management LLC increased its stake in Etsy by 218.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,491 shares of the specialty retailer's stock worth $80,000 after buying an additional 1,023 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Etsy during the 4th quarter worth $61,000. Charles Schwab Investment Management Inc. increased its stake in Etsy by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,020 shares of the specialty retailer's stock worth $59,820,000 after buying an additional 122,126 shares during the period. Finally, Keybank National Association OH purchased a new stake in Etsy during the 4th quarter worth $240,000. Hedge funds and other institutional investors own 99.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company set a $41.00 target price on shares of Etsy and gave the stock an "underweight" rating in a research report on Monday, June 30th. B. Riley dropped their target price on shares of Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of Etsy from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays dropped their target price on shares of Etsy from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $49.91.

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $51.36, for a total transaction of $77,040.00. Following the sale, the insider directly owned 34,683 shares of the company's stock, valued at $1,781,318.88. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Josh Silverman sold 151,666 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $57.68, for a total value of $8,748,094.88. Following the transaction, the chief executive officer directly owned 107,809 shares in the company, valued at $6,218,423.12. The trade was a 58.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,298 shares of company stock worth $11,156,039. 2.80% of the stock is owned by company insiders.

Etsy Price Performance

Shares of Etsy stock opened at $53.67 on Tuesday. The business's fifty day moving average price is $51.96 and its two-hundred day moving average price is $50.70. The company has a market capitalization of $5.60 billion, a P/E ratio of 38.34, a PEG ratio of 2.99 and a beta of 1.74. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $66.81.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.48 earnings per share. The firm's revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal 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.

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