Two Sigma Advisers LP Sells 33,900 Shares of Etsy, Inc. (NASDAQ:ETSY)

Two Sigma Advisers LP trimmed its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,800 shares of the specialty retailer's stock after selling 33,900 shares during the quarter. Two Sigma Advisers LP owned about 0.16% of Etsy worth $9,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETSY. DJE Kapital AG bought a new stake in shares of Etsy in the 4th quarter worth approximately $983,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Etsy by 12.1% in 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 purchasing an additional 122,126 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Etsy in the 4th quarter worth approximately $492,000. Natixis Advisors LLC acquired a new stake in shares of Etsy during the fourth quarter valued at approximately $606,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Etsy during the fourth quarter valued at approximately $751,000. 99.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Etsy from $76.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Evercore ISI cut their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Truist Financial cut their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Piper Sandler lowered their price objective on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, B. Riley dropped their price objective on shares of Etsy from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $50.14.

Etsy Stock Up 1.3%

Etsy stock traded up $0.67 during mid-day trading on Wednesday, reaching $51.15. The company had a trading volume of 1,135,907 shares, compared to its average volume of 3,918,698. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The company has a 50 day moving average of $45.74 and a 200-day moving average of $50.66. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS 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 the consensus estimate of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. Etsy's revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, 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, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $28,593.60. This trade represents a 70.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Richard Edward Colburn III sold 2,350 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $47.01, for a total transaction of $110,473.50. Following the transaction, the chief technology officer now owns 2,896 shares in the company, valued at $136,140.96. The trade was a 44.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,752 shares of company stock valued at $2,473,662. 2.60% of the stock is owned by insiders.

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.