Etsy, Inc. (NASDAQ:ETSY) Position Cut by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 69.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,667 shares of the specialty retailer's stock after selling 19,869 shares during the period. Guggenheim Capital LLC's holdings in Etsy were worth $458,000 as of its most recent SEC filing.

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

Etsy Stock Down 0.2 %

Shares of Etsy stock traded down $0.10 during trading hours on Thursday, hitting $43.38. The company's stock had a trading volume of 3,755,131 shares, compared to its average volume of 3,911,909. The company has a market capitalization of $4.57 billion, a PE ratio of 18.30, a P/E/G ratio of 2.57 and a beta of 2.15. The business has a fifty day moving average of $46.27 and a 200 day moving average of $51.20. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72.

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 the consensus estimate of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $651.18 million during the quarter, compared to analysts' expectations of $642.22 million. During the same period last year, the business earned $0.48 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. The trade was a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Toni Thompson Nadal sold 1,444 shares of the firm's stock in a transaction that occurred 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 directly owns 592 shares of the company's stock, valued at $28,593.60. The trade was a 70.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,952 shares of company stock valued at $2,554,620 in the last ninety days. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

ETSY has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on Etsy from $35.00 to $31.00 and set a "sell" rating on the stock in a research note on Thursday. Truist Financial dropped their price objective on Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Etsy from $50.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Evercore ISI lowered their price target on shares of Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Thursday. Finally, UBS Group reduced their price objective on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy currently has a consensus rating of "Hold" and a consensus price target of $52.67.

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.