Xponance Inc. Sells 3,631 Shares of Etsy, Inc. (NASDAQ:ETSY)

Xponance Inc. decreased its stake in Etsy, Inc. (NASDAQ:ETSY) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,236 shares of the specialty retailer’s stock after selling 3,631 shares during the period. Xponance Inc.’s holdings in Etsy were worth $1,802,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in shares of Etsy in the 4th quarter worth $27,000. Operose Advisors LLC bought a new position in shares of Etsy in the 3rd quarter worth $28,000. Tompkins Financial Corp purchased a new stake in shares of Etsy in the 4th quarter valued at $41,000. KB Financial Partners LLC boosted its stake in shares of Etsy by 99.5% in the 3rd quarter. KB Financial Partners LLC now owns 836 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 417 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Etsy by 33.1% in the 3rd quarter. Signaturefd LLC now owns 1,103 shares of the specialty retailer’s stock valued at $71,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 99.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETSY. Truist Financial cut their price objective on shares of Etsy from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company cut their price objective on shares of Etsy from $62.00 to $60.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Evercore ISI cut their price objective on shares of Etsy from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Piper Sandler upped their price objective on shares of Etsy from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group cut shares of Etsy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $84.00 to $80.00 in a research report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.88.

Etsy Price Performance

Shares of Etsy stock opened at $68.35 on Wednesday. The company has a 50-day moving average of $69.30 and a 200 day moving average of $71.53. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 4.64 and a beta of 2.01. Etsy, Inc. has a 1 year low of $58.20 and a 1 year high of $103.25.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings results on Wednesday, February 21st. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $842.32 million during the quarter, compared to analyst estimates of $827.40 million. Etsy had a net margin of 11.19% and a negative return on equity of 70.75%. On average, equities analysts anticipate that Etsy, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total value of $4,570,907.50. Following the completion of the transaction, the chief executive officer now directly owns 23,140 shares in the company, valued at approximately $1,677,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Etsy news, CAO Merilee Buckley sold 1,671 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $65.04, for a total transaction of $108,681.84. Following the completion of the sale, the chief accounting officer now directly owns 2,827 shares in the company, valued at approximately $183,868.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Josh Silverman sold 63,047 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the sale, the chief executive officer now owns 23,140 shares of the company’s stock, valued at $1,677,650. The disclosure for this sale can be found here. Insiders sold a total of 66,968 shares of company stock worth $4,836,827 in the last three months. 2.60% of the stock is owned by corporate insiders.

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.