Thrivent Financial for Lutherans lessened its stake in Etsy Inc (NYSE:ETSY – Free Report) by 41.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,535 shares of the company’s stock after selling 58,317 shares during the period. Thrivent Financial for Lutherans’ holdings in Etsy were worth $4,520,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ETSY. Abich Financial Wealth Management LLC purchased a new position in Etsy in the 3rd quarter worth approximately $51,000. Danske Bank A S purchased a new position in Etsy in the 3rd quarter worth approximately $66,000. LSV Asset Management purchased a new position in Etsy in the 3rd quarter worth approximately $86,000. MAI Capital Management grew its stake in Etsy by 215.0% in the 3rd quarter. MAI Capital Management now owns 1,320 shares of the company’s stock worth $88,000 after buying an additional 901 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Etsy by 10.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,734 shares of the company’s stock worth $88,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Insider Activity
In related news, insider Josh Silverman sold 88,350 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the completion of the sale, the insider directly owned 130,694 shares in the company, valued at $8,387,940.92. This represents a 40.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 2,030 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $63.50, for a total transaction of $128,905.00. Following the sale, the chief financial officer owned 6,913 shares of the company’s stock, valued at $438,975.50. This represents a 22.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 278,569 shares of company stock valued at $17,728,487. 2.50% of the stock is owned by corporate insiders.
Etsy Trading Up 2.9%
Etsy (NYSE:ETSY – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. The company had revenue of $881.64 million during the quarter. Equities research analysts forecast that Etsy Inc will post 3.74 EPS for the current year.
Wall Street Analysts Forecast Growth
ETSY has been the subject of a number of recent research reports. B. Riley Financial lowered shares of Etsy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Thursday, April 30th. Needham & Company LLC boosted their price objective on shares of Etsy from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Zacks Research lowered shares of Etsy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Arete Research set a $76.00 price objective on shares of Etsy and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of Etsy from a “sell” rating to a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.75.
View Our Latest Stock Analysis on ETSY
Etsy Profile
Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. 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. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.
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