Etsy, Inc. (NASDAQ:ETSY) Position Reduced by Prudential PLC

Prudential PLC reduced its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 51,542 shares of the specialty retailer’s stock after selling 3,184 shares during the period. Prudential PLC’s holdings in Etsy were worth $2,726,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ETSY. Janus Henderson Group PLC grew its holdings in Etsy by 7.8% during the third quarter. Janus Henderson Group PLC now owns 482,262 shares of the specialty retailer’s stock worth $26,780,000 after acquiring an additional 34,991 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Etsy by 146.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 22,876 shares of the specialty retailer’s stock worth $1,270,000 after purchasing an additional 13,577 shares during the last quarter. Investment Management Corp of Ontario bought a new stake in shares of Etsy in the 3rd quarter worth approximately $345,000. Quarry LP lifted its stake in Etsy by 120.4% during the third quarter. Quarry LP now owns 1,953 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Etsy by 354.9% during the third quarter. Quantinno Capital Management LP now owns 50,425 shares of the specialty retailer’s stock worth $2,800,000 after buying an additional 39,340 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Etsy

In other 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 approximately $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Merilee Buckley sold 1,676 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $48.40, for a total value of $81,118.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,952 shares of company stock worth $2,554,620. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETSY. Truist Financial cut their price objective on Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. UBS Group reduced their target price on Etsy from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group raised Etsy from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Etsy in a research note on Thursday, February 20th. Finally, Stifel Nicolaus dropped their target price on shares of Etsy from $56.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.38.

Etsy Trading Down 8.2 %

Etsy stock opened at $44.42 on Friday. Etsy, Inc. has a 1-year low of $43.43 and a 1-year high of $71.72. The firm’s fifty day simple moving average is $50.45 and its 200-day simple moving average is $52.43. The company has a market capitalization of $4.76 billion, a P/E ratio of 18.74, a P/E/G ratio of 2.57 and a beta of 2.15.

Etsy (NASDAQ:ETSY) last announced its earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share (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 firm had revenue of $852.16 million during the quarter, compared to analysts’ expectations of $861.37 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Etsy, Inc. will post 2.57 earnings per share for the current 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.