T. Rowe Price Investment Management Inc. Has $82,000 Stock Holdings in Etsy, Inc. (NASDAQ:ETSY)

T. Rowe Price Investment Management Inc. lowered its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 97.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,535 shares of the specialty retailer's stock after selling 63,988 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Etsy were worth $82,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Etsy during the 4th quarter worth approximately $74,235,000. Assenagon Asset Management S.A. raised its holdings in shares of Etsy by 132.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,490,399 shares of the specialty retailer's stock worth $78,827,000 after acquiring an additional 850,520 shares during the period. Victory Capital Management Inc. lifted its position in Etsy by 703.8% in the 4th quarter. Victory Capital Management Inc. now owns 812,671 shares of the specialty retailer's stock valued at $42,982,000 after acquiring an additional 711,572 shares in the last quarter. Van ECK Associates Corp lifted its position in Etsy by 17.4% in the 4th quarter. Van ECK Associates Corp now owns 3,527,742 shares of the specialty retailer's stock valued at $186,583,000 after acquiring an additional 522,111 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Etsy by 313.1% in the 3rd quarter. Principal Financial Group Inc. now owns 542,505 shares of the specialty retailer's stock worth $30,125,000 after purchasing an additional 411,165 shares during the period. Institutional investors and hedge funds own 99.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ETSY. Bank of America dropped their price target on Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus cut their target price on Etsy from $51.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial decreased their price target on shares of Etsy from $70.00 to $67.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley cut their price objective on shares of Etsy from $44.00 to $40.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Etsy and gave the company a "hold" rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $54.22.

Insider Buying and Selling at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.34, for a total value of $83,010.00. Following the sale, the insider now directly owns 22,198 shares of the company's stock, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Josh Silverman sold 21,666 shares of the business's stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 5,004 shares of the company's stock, valued at approximately $260,458.20. The trade was a 81.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,952 shares of company stock valued at $2,554,620. 2.60% of the stock is currently owned by corporate insiders.

Etsy Trading Down 5.7 %

Shares of NASDAQ:ETSY traded down $2.65 on Wednesday, reaching $43.48. 11,845,582 shares of the company's stock were exchanged, compared to its average volume of 3,911,947. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 2.57 and a beta of 2.15. The company has a fifty day moving average of $46.27 and a 200-day moving average of $51.20. Etsy, Inc. has a twelve month low of $40.05 and a twelve month high of $71.72.

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