Vontobel Holding Ltd. Has $1.88 Million Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Vontobel Holding Ltd. cut its stake in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 43.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,856 shares of the specialty retailer's stock after selling 30,227 shares during the period. Vontobel Holding Ltd.'s holdings in Etsy were worth $1,880,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETSY. Lindbrook Capital LLC raised its holdings in Etsy by 55.7% in 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 holdings in Etsy by 112.7% in the 4th quarter. True Wealth Design LLC now owns 551 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 292 shares in the last quarter. Hurley Capital LLC acquired a new position in Etsy in the 4th quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Etsy in the 4th quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new position in shares of Etsy during the 4th quarter worth $37,000. 99.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ETSY. Citigroup lowered their price target on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, April 25th. B. Riley lowered their price target on Etsy from $62.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Etsy in a report on Wednesday, April 30th. Arete Research raised Etsy to a "strong sell" rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on Etsy from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Etsy has a consensus rating of "Hold" and an average target price of $49.91.

Etsy Stock Performance

Shares of NASDAQ ETSY opened at $54.40 on Friday. The company's 50 day moving average price is $51.81 and its 200-day moving average price is $50.81. Etsy, Inc. has a 52-week low of $40.05 and a 52-week high of $66.81. The company has a market capitalization of $5.67 billion, a P/E ratio of 38.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.74.

Etsy (NASDAQ:ETSY - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $642.22 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Etsy's quarterly revenue was up .8% on a year-over-year basis. Analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

Insider Activity

In other Etsy news, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $51.37, for a total transaction of $1,112,982.42. Following the completion of the sale, the chief executive officer owned 62,674 shares in the company, valued at approximately $3,219,563.38. The trade was a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Richard Edward Colburn III sold 2,350 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $47.01, for a total transaction of $110,473.50. Following the sale, the chief technology officer owned 2,896 shares of the company's stock, valued at $136,140.96. This trade represents a 44.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,298 shares of company stock worth $11,156,039 in the last quarter. 2.80% of the stock is owned by corporate 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.

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