Etsy, Inc. (NASDAQ:ETSY) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its stake in Etsy, Inc. (NASDAQ:ETSY) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,575 shares of the specialty retailer’s stock after selling 3,222 shares during the period. Nikko Asset Management Americas Inc. owned approximately 0.05% of Etsy worth $3,043,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Royce & Associates LP acquired a new position in Etsy during the fourth quarter valued at approximately $4,154,000. Natixis Advisors LLC purchased a new position in shares of Etsy in the 4th quarter valued at $606,000. Vestcor Inc purchased a new position in shares of Etsy in the 4th quarter valued at $223,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Etsy during the 4th quarter worth $15,630,000. Finally, HighTower Advisors LLC acquired a new stake in Etsy in the 4th quarter valued at $218,000. 99.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETSY. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and increased their price target for the company from $45.00 to $55.00 in a report on Monday, January 13th. Morgan Stanley decreased their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Stifel Nicolaus reduced their price objective on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald dropped their target price on shares of Etsy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Etsy has an average rating of “Hold” and an average target price of $58.78.

Insider Buying and Selling at Etsy

In other Etsy news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $52.05, for a total transaction 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. The trade was a 81.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now owns 22,198 shares of the company’s stock, valued at approximately $1,228,437.32. This represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock valued at $1,286,445. 2.60% of the stock is currently owned by corporate insiders.

Etsy Trading Up 1.4 %

Etsy stock opened at $46.29 on Tuesday. Etsy, Inc. has a 52 week low of $43.75 and a 52 week high of $71.72. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.57 and a beta of 2.23. The company’s 50-day moving average price is $52.25 and its two-hundred day moving average price is $53.15.

Etsy (NASDAQ:ETSY) last released its 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. The business had revenue of $852.16 million for the quarter, compared to the consensus estimate of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. Research analysts expect that Etsy, Inc. will post 2.57 earnings per share 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.