Two Sigma Securities LLC Trims Holdings in Etsy, Inc. (NASDAQ:ETSY)

Two Sigma Securities LLC lessened its stake in shares of Etsy, Inc. (NASDAQ:ETSY - Free Report) by 45.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,363 shares of the specialty retailer's stock after selling 11,237 shares during the period. Two Sigma Securities LLC's holdings in Etsy were worth $707,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Lindbrook Capital LLC boosted its holdings in Etsy by 55.7% during the 4th quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 181 shares during the period. Hurley Capital LLC purchased a new position in Etsy in the 4th quarter worth about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Etsy during the 4th quarter valued at about $34,000. Summit Securities Group LLC purchased a new stake in Etsy in the 4th quarter valued at about $37,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Etsy during the fourth quarter worth approximately $38,000. 99.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ETSY shares. Wells Fargo & Company dropped their price objective on Etsy from $46.00 to $40.00 and set an "underweight" rating on the stock in a research note on Thursday. The Goldman Sachs Group cut their price target on Etsy from $45.00 to $35.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial lowered their price objective 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. Bank of America cut their target price on shares of Etsy from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup dropped their price objective on shares of Etsy from $53.00 to $48.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Etsy has a consensus rating of "Hold" and a consensus price target of $52.92.

Insider Activity

In other Etsy news, insider Toni Thompson Nadal sold 1,444 shares of the business'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 completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $28,593.60. The trade was a 70.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Josh Silverman sold 21,666 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the transaction, the chief executive officer now owns 31,818 shares in the company, valued at approximately $1,534,582.14. This trade represents a 40.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,952 shares of company stock worth $2,554,620 in the last ninety days. Company insiders own 2.60% of the company's stock.

Etsy Price Performance

NASDAQ:ETSY traded down $0.72 during trading hours on Thursday, reaching $42.76. The company had a trading volume of 2,687,638 shares, compared to its average volume of 3,908,275. Etsy, Inc. has a 1-year low of $40.05 and a 1-year high of $71.72. The business's 50 day moving average price is $46.27 and its 200-day moving average price is $51.20. The firm has a market cap of $4.50 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm had revenue of $651.18 million for the quarter, compared to analysts' expectations of $642.22 million. During the same period last year, the company posted $0.48 earnings per share. The business's quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

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.