Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,242 shares of the specialty retailer's stock after selling 21,387 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Etsy worth $29,603,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ETSY. CVA Family Office LLC acquired a new position in Etsy during the fourth quarter worth $27,000. Operose Advisors LLC acquired a new position in Etsy during the third quarter worth $28,000. Tompkins Financial Corp acquired a new position in Etsy during the fourth quarter worth $41,000. KB Financial Partners LLC raised its position in Etsy by 99.5% during the third quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer's stock worth $54,000 after acquiring an additional 417 shares during the period. Finally, Signaturefd LLC raised its position in shares of Etsy by 33.1% in the third quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer's stock valued at $71,000 after buying an additional 274 shares during the last quarter. 99.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Etsy

In other news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicholas Daniel sold 750 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.01, for a total transaction of $49,507.50. Following the completion of the sale, the insider now owns 19,682 shares in the company, valued at approximately $1,299,208.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Merilee Buckley sold 1,671 shares of the company's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now owns 2,827 shares of the company's stock, valued at approximately $183,868.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,968 shares of company stock worth $4,836,827. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 target price on shares of Etsy in a research report on Friday, March 1st. Truist Financial reduced their target price on shares of Etsy from $87.00 to $85.00 and set a "buy" rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group cut shares of Etsy from a "buy" rating to a "neutral" rating and reduced their target price for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. BTIG Research reduced their target price on shares of Etsy from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, February 22nd. Finally, Wedbush reduced their target price on shares of Etsy from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.88.

Etsy Price Performance

Shares of ETSY stock traded down $0.31 during trading on Monday, reaching $66.45. The company's stock had a trading volume of 2,716,883 shares, compared to its average volume of 3,734,436. Etsy, Inc. has a 1-year low of $58.20 and a 1-year high of $103.25. The stock's 50-day moving average price is $69.42 and its 200 day moving average price is $71.49. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 4.64 and a beta of 2.01.

Etsy (NASDAQ:ETSY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $842.32 million during the quarter, compared to the consensus estimate of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. On average, sell-side analysts anticipate that Etsy, Inc. will post 2.58 EPS for the current fiscal year.

Etsy Company 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.