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

Xponance Inc. decreased its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ETSY. Bares Capital Management Inc. raised its stake in shares of Etsy by 57.8% in the third quarter. Bares Capital Management Inc. now owns 4,043,715 shares of the specialty retailer’s stock valued at $261,143,000 after acquiring an additional 1,480,655 shares during the period. Van ECK Associates Corp raised its stake in shares of Etsy by 40.3% in the third quarter. Van ECK Associates Corp now owns 3,649,213 shares of the specialty retailer’s stock valued at $235,666,000 after acquiring an additional 1,047,811 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Etsy by 107.4% in the third quarter. Epoch Investment Partners Inc. now owns 710,224 shares of the specialty retailer’s stock valued at $45,866,000 after acquiring an additional 367,759 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Etsy by 46.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,605 shares of the specialty retailer’s stock valued at $72,046,000 after acquiring an additional 352,255 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Etsy by 217.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 400,300 shares of the specialty retailer’s stock valued at $32,444,000 after acquiring an additional 274,284 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Etsy from $80.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Barclays upped their price target on shares of Etsy from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Truist Financial cut their price target on shares of Etsy from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wedbush cut their price target on shares of Etsy from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Finally, BTIG Research cut their price target on shares of Etsy from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Etsy has an average rating of “Hold” and an average price target of $84.88.

Etsy Stock Performance

NASDAQ:ETSY opened at $68.35 on Wednesday. Etsy, Inc. has a fifty-two week low of $58.20 and a fifty-two week high of $103.25. The stock has a market capitalization of $8.10 billion, a P/E ratio of 30.51, a P/E/G ratio of 4.64 and a beta of 2.01. The company’s 50-day simple moving average is $69.30 and its 200-day simple moving average is $71.53.

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

Insider Activity

In other news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the sale, the insider now directly owns 13,138 shares in the company, valued at approximately $943,571.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,677,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,968 shares of company stock worth $4,836,827. Corporate insiders own 2.60% of the company’s stock.

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.