Etsy, Inc. $ETSY Stake Reduced by 180 Wealth Advisors LLC

180 Wealth Advisors LLC reduced its stake in shares of Etsy, Inc. (NASDAQ:ETSY) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,604 shares of the specialty retailer’s stock after selling 219 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Etsy were worth $582,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooper Financial Group grew its stake in Etsy by 31.3% during the 1st quarter. Cooper Financial Group now owns 18,962 shares of the specialty retailer’s stock worth $895,000 after buying an additional 4,523 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Etsy during the 1st quarter worth $288,000. Focus Partners Advisor Solutions LLC bought a new position in Etsy during the 1st quarter worth $922,000. Hunter Perkins Capital Management LLC bought a new position in Etsy during the 1st quarter worth $649,000. Finally, OMNI 360 Wealth Inc. bought a new position in Etsy during the 1st quarter worth $246,000. 99.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Josh Silverman sold 21,666 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total value of $1,520,736.54. Following the completion of the sale, the chief executive officer owned 62,674 shares in the company, valued at $4,399,088.06. This represents a 25.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director M Michele Burns sold 14,464 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $62.82, for a total value of $908,628.48. Following the completion of the sale, the director owned 19,964 shares of the company’s stock, valued at approximately $1,254,138.48. This trade represents a 42.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 402,667 shares of company stock valued at $26,362,857. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETSY. Stifel Nicolaus upped their price objective on Etsy from $45.00 to $66.00 and gave the stock a “hold” rating in a research note on Tuesday, July 29th. Citizens Jmp upgraded Etsy to a “hold” rating in a research report on Thursday, July 10th. Arete Research upgraded Etsy from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 7th. Jefferies Financial Group boosted their price target on Etsy from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $72.00 price target on shares of Etsy in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

Etsy Stock Down 0.1%

Shares of Etsy stock opened at $73.79 on Friday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 10.65 and a beta of 1.85. The business has a fifty day simple moving average of $63.99 and a 200-day simple moving average of $56.93. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $76.51.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings data on Wednesday, July 30th. The specialty retailer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.29). The firm had revenue of $672.66 million during the quarter, compared to analyst estimates of $645.16 million. Etsy had a net margin of 5.78% and a negative return on equity of 31.10%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Analysts anticipate 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.