Grandeur Peak Global Advisors LLC Lowers Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

Grandeur Peak Global Advisors LLC cut its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 94.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,214 shares of the specialty retailer's stock after selling 160,752 shares during the quarter. Grandeur Peak Global Advisors LLC's holdings in Etsy were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Hurley Capital LLC purchased a new position in shares of Etsy in the 4th quarter valued at about $32,000. Summit Securities Group LLC acquired a new position in shares of Etsy during the fourth quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in Etsy in the fourth quarter valued at approximately $38,000. Finally, Versant Capital Management Inc raised its holdings in Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer's stock valued at $44,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Buying and Selling at Etsy

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.30, for a total transaction of $69,745.20. Following the sale, the insider now owns 592 shares in the company, valued at approximately $28,593.60. This represents a 70.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,676 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,952 shares of company stock valued at $2,554,620. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald dropped their price objective on shares of Etsy from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Etsy and gave the company a "hold" rating in a research note on Monday. UBS Group dropped their price objective on Etsy from $54.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Piper Sandler decreased their target price on Etsy from $52.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.42.

Etsy Trading Up 3.8 %

Shares of NASDAQ:ETSY traded up $1.63 on Friday, reaching $44.15. 2,900,653 shares of the company were exchanged, compared to its average volume of 3,808,870. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The company has a 50-day moving average of $47.87 and a 200-day moving average of $51.57. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analyst estimates of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current year.

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.