Yousif Capital Management LLC Trims Holdings in Etsy, Inc. (NASDAQ:ETSY)

Yousif Capital Management LLC cut its position in shares of Etsy, Inc. (NASDAQ:ETSY) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,212 shares of the specialty retailer’s stock after selling 1,551 shares during the quarter. Yousif Capital Management LLC’s holdings in Etsy were worth $1,314,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ETSY. Connor Clark & Lunn Investment Management Ltd. grew its stake in Etsy by 23.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 309,333 shares of the specialty retailer’s stock worth $19,977,000 after acquiring an additional 57,785 shares during the period. Northern Trust Corp grew its position in shares of Etsy by 4.3% in the third quarter. Northern Trust Corp now owns 1,194,153 shares of the specialty retailer’s stock valued at $77,118,000 after purchasing an additional 48,934 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Etsy in the fourth quarter valued at $2,273,000. International Assets Investment Management LLC purchased a new position in Etsy during the fourth quarter worth about $38,490,000. Finally, CVA Family Office LLC acquired a new stake in Etsy in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $943,571.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Etsy news, CEO Josh Silverman sold 63,047 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $72.50, for a total transaction of $4,570,907.50. Following the transaction, the chief executive officer now owns 23,140 shares of the company’s stock, valued at approximately $1,677,650. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Daniel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $71.82, for a total value of $107,730.00. Following the completion of the sale, the insider now owns 13,138 shares of the company’s stock, valued at $943,571.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,968 shares of company stock valued at $4,836,827. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ETSY. Barclays cut their price objective on shares of Etsy from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday. BTIG Research cut their price target on shares of Etsy from $87.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer lowered their price objective on shares of Etsy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Wedbush cut their target price on Etsy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Citigroup lowered their price target on Etsy from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Etsy presently has an average rating of “Hold” and a consensus target price of $79.96.

Etsy Price Performance

Shares of Etsy stock opened at $59.97 on Friday. Etsy, Inc. has a 1-year low of $56.60 and a 1-year high of $102.81. The company has a market capitalization of $7.02 billion, a PE ratio of 27.38, a P/E/G ratio of 4.89 and a beta of 2.00. The business has a 50-day moving average of $67.77 and a 200-day moving average of $71.52.

Etsy (NASDAQ:ETSY) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Etsy had a net margin of 10.75% and a negative return on equity of 68.52%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $646.30 million. During the same quarter last year, the business earned $0.53 EPS. Etsy’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts expect that Etsy, Inc. will post 2.56 earnings per share for the current fiscal 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.