Stifel Financial Corp Has $1 Million Position in Etsy, Inc. (NASDAQ:ETSY)

Stifel Financial Corp trimmed its holdings in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 77.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,983 shares of the specialty retailer's stock after selling 63,591 shares during the period. Stifel Financial Corp's holdings in Etsy were worth $1,004,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in shares of 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 acquiring an additional 181 shares in the last quarter. Hurley Capital LLC acquired a new stake in Etsy during the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Etsy in the 4th quarter valued at $34,000. Summit Securities Group LLC acquired a new position in shares of Etsy in the 4th quarter worth approximately $37,000. Finally, Kestra Investment Management LLC acquired a new position in Etsy in the fourth quarter worth $38,000. 99.53% of the stock is currently owned by institutional investors.

Insider Transactions at Etsy

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the transaction, the chief executive officer now owns 5,004 shares of the company's stock, valued at $260,458.20. This trade represents a 81.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Toni Thompson Nadal sold 1,444 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $48.30, for a total value of $69,745.20. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $28,593.60. This trade represents a 70.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,618 shares of company stock valued at $3,469,803. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETSY has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Etsy from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group cut their price objective on shares of Etsy from $76.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Etsy from $46.00 to $40.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. UBS Group dropped their target price on shares of Etsy from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler decreased their price target on shares of Etsy from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.14.

Etsy Trading Up 1.4%

ETSY stock traded up $0.65 on Monday, hitting $47.59. The company's stock had a trading volume of 6,453,748 shares, compared to its average volume of 3,868,577. The firm has a 50 day moving average of $45.44 and a two-hundred day moving average of $50.96. Etsy, Inc. has a 1 year low of $40.05 and a 1 year high of $66.93. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $642.22 million. During the same period in the previous year, the business earned $0.48 EPS. The firm's revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Etsy, Inc. will post 2.57 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.