Etsy, Inc. (NASDAQ:ETSY) Shares Purchased by Prudential PLC

Key Points

• Prudential PLC has increased its stake in Etsy, Inc. by 55.7% to 80,270 shares, valued at approximately $3.79 million as of their latest SEC filing.
• Insider trading activity reveals significant share sales, including CEO Josh Silverman selling 151,666 shares for about $8.75 million, indicating a 58.45% reduction in his position.
• Etsy's latest earnings report showed an EPS of $0.25, missing estimates of $0.54, while the company had a revenue of $672.66 million for the quarter, up 3.8% year-over-year.

Prudential PLC grew its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 55.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,270 shares of the specialty retailer's stock after acquiring an additional 28,728 shares during the period. Prudential PLC owned 0.08% of Etsy worth $3,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its stake in Etsy by 32.9% in the 4th quarter. Cerity Partners LLC now owns 30,412 shares of the specialty retailer's stock worth $1,626,000 after purchasing an additional 7,528 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Etsy by 23.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,599 shares of the specialty retailer's stock valued at $190,000 after buying an additional 679 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Etsy by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 27,310 shares of the specialty retailer's stock valued at $1,444,000 after buying an additional 1,315 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in Etsy by 14.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 30,297 shares of the specialty retailer's stock valued at $1,602,000 after purchasing an additional 3,912 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Etsy during the 4th quarter valued at about $5,171,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETSY. B. Riley cut their target price on Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus raised their price target on Etsy from $45.00 to $66.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. UBS Group reaffirmed a "neutral" rating and issued a $67.00 price objective on shares of Etsy in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Etsy from $40.00 to $47.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Finally, Loop Capital reduced their price target on shares of Etsy from $40.00 to $37.00 and set a "sell" rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $57.20.

Etsy Stock Performance

Shares of ETSY traded down $1.78 during trading hours on Friday, hitting $66.43. The stock had a trading volume of 5,029,654 shares, compared to its average volume of 5,941,405. The company's fifty day simple moving average is $58.10 and its 200 day simple moving average is $52.07. The firm has a market cap of $6.58 billion, a P/E ratio of 53.57, a P/E/G ratio of 4.22 and a beta of 1.73. Etsy, Inc. has a 12-month low of $40.05 and a 12-month high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.29). Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. The company had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Etsy

In other Etsy news, CAO Merilee Buckley sold 5,817 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $58.83, for a total transaction of $342,214.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melissa Reiff sold 6,909 shares of Etsy stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $58.89, for a total transaction of $406,871.01. Following the completion of the transaction, the director directly owned 16,424 shares of the company's stock, valued at $967,209.36. This trade represents a 29.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 364,168 shares of company stock valued at $21,945,035 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Etsy 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.