Thrivent Financial for Lutherans Sells 58,317 Shares of Etsy Inc $ETSY

Thrivent Financial for Lutherans lowered its holdings in Etsy Inc (NYSE:ETSY) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,535 shares of the company’s stock after selling 58,317 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Etsy worth $4,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abich Financial Wealth Management LLC bought a new stake in shares of Etsy in the third quarter valued at approximately $51,000. Danske Bank A S bought a new stake in shares of Etsy in the third quarter valued at approximately $66,000. LSV Asset Management bought a new stake in shares of Etsy in the third quarter valued at approximately $86,000. MAI Capital Management raised its position in shares of Etsy by 215.0% in the third quarter. MAI Capital Management now owns 1,320 shares of the company’s stock valued at $88,000 after purchasing an additional 901 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Etsy in the third quarter valued at approximately $93,000. Institutional investors own 99.53% of the company’s stock.

Etsy Trading Up 2.9%

Shares of NYSE:ETSY opened at $62.48 on Friday. The company’s 50 day moving average price is $57.20. The stock has a market capitalization of $5.93 billion, a PE ratio of 26.03, a P/E/G ratio of 5.41 and a beta of 1.89. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51.

Etsy (NYSE:ETSY) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $881.64 million during the quarter. Etsy had a net margin of 9.94% and a negative return on equity of 28.60%. On average, equities analysts anticipate that Etsy Inc will post 3.74 earnings per share for the current year.

Insider Activity

In other Etsy news, CAO Merilee Buckley sold 1,993 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $52.92, for a total value of $105,469.56. Following the completion of the transaction, the chief accounting officer owned 809 shares of the company’s stock, valued at $42,812.28. The trade was a 71.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 2,030 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $63.50, for a total transaction of $128,905.00. Following the completion of the transaction, the chief financial officer directly owned 6,913 shares of the company’s stock, valued at approximately $438,975.50. This represents a 22.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 278,569 shares of company stock worth $17,728,487 in the last three months. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETSY. The Goldman Sachs Group raised shares of Etsy from a “sell” rating to a “neutral” rating in a research report on Thursday. Argus raised shares of Etsy from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday. Raymond James Financial lowered shares of Etsy from an “outperform” rating to an “outperform” rating in a research report on Thursday. Truist Financial boosted their price target on shares of Etsy from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, BTIG Research boosted their price objective on shares of Etsy from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.75.

About Etsy

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.