Vanguard Group Inc. Has $558.37 Million Position in Etsy, Inc. $ETSY

Key Points

• Vanguard Group Inc. reduced its stake in Etsy, Inc. by 3.9%, selling 474,811 shares and owning approximately 11.35% of the company, valued at $558.37 million.
• Analysts have mixed views on Etsy, with price targets ranging from a low of $54 to a high of $70, leading to a consensus rating of "Hold" and a target price of $57.20.
• Etsy's stock experienced a decline of 2.6%, trading at $66.43, and reported quarterly earnings of $0.25 per share, missing estimates significantly.

Vanguard Group Inc. cut its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,834,811 shares of the specialty retailer's stock after selling 474,811 shares during the period. Vanguard Group Inc. owned 11.35% of Etsy worth $558,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC grew its holdings in shares of Etsy by 112.7% during 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 period. Strategic Investment Solutions Inc. IL bought a new stake in Etsy during the fourth quarter valued at about $34,000. Allworth Financial LP increased its stake 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 purchasing an additional 248 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings 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 in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Etsy in the first quarter valued at $70,000. 99.53% of the stock is currently owned by hedge funds and other institutional investors.

Etsy Stock Down 0.4%

ETSY stock traded down $0.27 during trading on Tuesday, hitting $64.69. The company had a trading volume of 544,141 shares, compared to its average volume of 4,832,722. The firm has a 50-day moving average price of $58.12 and a 200-day moving average price of $52.11. The firm has a market cap of $6.41 billion, a PE ratio of 52.15, a price-to-earnings-growth ratio of 4.22 and a beta of 1.73. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $70.57.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $672.66 million for the quarter, compared to analyst estimates of $645.16 million. Etsy had a negative return on equity of 31.10% and a net margin of 5.78%. Etsy'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 business earned $0.41 earnings per share. Sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Merilee Buckley sold 5,817 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $58.83, for a total transaction of $342,214.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Melissa Reiff sold 6,909 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $58.89, for a total transaction of $406,871.01. Following the transaction, the director directly owned 16,424 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 364,168 shares of company stock worth $21,945,035. Corporate insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

ETSY has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Guggenheim upped their price objective on shares of Etsy from $50.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Citigroup dropped their price objective on Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. UBS Group restated a "neutral" rating and issued a $67.00 price objective on shares of Etsy in a report on Thursday, July 31st. Finally, Arete Research upgraded shares of Etsy from a "strong sell" rating to a "hold" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $57.20.

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.